In 7/ 2017 I paid a penalty for my 2015 tax returns as I forgot to include income from a retirement annuity. I paid 2,163 to the IRS. Can I write this tax payment off?
01450
1 Best answer
KennethB
New Member
Jun 6, 2019 8:09:22 AM
Federal taxes, penalties and interest paid for a prior year are not deductible.
State taxes paid for a prior year are deductible on your Federal return in the year paid, but only the taxes. Penalties and interest are not deductible.
1 Replies
KennethB
New Member
Jun 6, 2019 8:09:22 AM
Federal taxes, penalties and interest paid for a prior year are not deductible.
State taxes paid for a prior year are deductible on your Federal return in the year paid, but only the taxes. Penalties and interest are not deductible.