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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?
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May 31, 2019
7:14 PM
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After you file
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.
May 31, 2019
7:14 PM
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After you file
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.
May 31, 2019
7:14 PM