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Business & farm
The fourth-quarter state estimated tax payment gets a little tricky. The payment gets applied to your 2024 state tax return as a payment, together with the payments for the earlier quarters. But if you claim an itemized deduction for state income tax on your federal tax return, you claim the deduction on your federal tax return for the year that you actually paid it, which is 2025.
‎January 2, 2025
6:23 PM