turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

kmdaye
New Member

can you deduct your state income taxes applied to your investments on line 9b form 8960 if you took the standard deduction?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
SabrinaD2
Employee Tax Expert

can you deduct your state income taxes applied to your investments on line 9b form 8960 if you took the standard deduction?

No, you cannot deduct state income taxes applied to your investments on line 9b of Form 8960 if you took the standard deduction. Here's a concise summary:

  • Standard Deduction: If you take the standard deduction, you cannot itemize deductions, including state income taxes.
  • Form 8960: Line 9b allows deductions for state, local, and foreign income taxes only if they are properly deducted on your income tax return, which requires itemizing

For more detailed information, you can refer to:

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question