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mike7
New Member

Under reported Income and taxes/ interest due from previous tax year.

In the 2016 tax year I received a notice from the IRS that I had under reported my 2014 income taxes. They received a W2 from PayPal that did not match what I reported from PayPal. I paid the taxes due and I paid interest on those taxes due in 2016.... Is there some place i should/can report this on my 2016 return?

2 Replies
TomYoung
Level 13

Under reported Income and taxes/ interest due from previous tax year.

All that pertains to the 2014 income tax year and the interest is not deductible even if paid in 2016.  There's no "2016" reporting here.
CherylW
Level 3

Under reported Income and taxes/ interest due from previous tax year.

No.  You can't take federal taxes paid off on your federal tax return. 

If you live in a state that has income tax, you may be able to take the tax paid off. 


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