Can I deduct monthly federal tax payments as part of a payment plan for a previous tax year? If so where would I enter that?

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Can I deduct monthly federal tax payments as part of a payment plan for a previous tax year? If so where would I enter that?

No, Federal income tax is never deductible.

Can I deduct monthly federal tax payments as part of a payment plan for a previous tax year? If so where would I enter that?

However, some states allow you to deduct it (but not any interest or penalties) on your State return.

Can I deduct monthly federal tax payments as part of a payment plan for a previous tax year? If so where would I enter that?

There are six states that allow you to enter the federal tax you paid on your state return--Alabama, Iowa. Louisiana, Missouri, Montana, and Oregon. If you are filing in one of these states watch for the deduction when you prepare your state return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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