topic additional taxes paid for 2018 in 2019 in Deductions & credits

additional taxes paid for 2018 in 2019

mcarlock — Sun, 09 Feb 2020 21:27:56 GMT

I had to make payments in 2019 for an underpayment of 2018 federal and state taxes. Can I deduct all or part of these taxes on my 2019 return and if so how?

Re: additional taxes paid for 2018 in 2019

AnnetteB6 — Sun, 09 Feb 2020 21:47:13 GMT

You can deduct the payments made during 2019 for your state taxes on your 2019 return. These would be included as part of itemized deductions on Schedule A.

Use the following steps:

On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
This opens a box where you can type in “state balance due paid” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
The search results will give you an option to “Jump to state balance due paid”
Click on the blue “Jump to state balance due paid” link
Scroll to the bottom of the screen until you see Other Income Taxes Paid in 2019
Click Start or Update beside Balance due on your 2018 state taxes paid in 2019

Re: additional taxes paid for 2018 in 2019

mcarlock — Wed, 12 Feb 2020 14:03:59 GMT

Thanks for the reply...

What about Federal taxes?

Re: additional taxes paid for 2018 in 2019

KatrinaB48 — Wed, 12 Feb 2020 14:18:31 GMT

With the exception of estimated federal taxes, you're not allowed to claim a deduction or credit for any taxes, penalties, or interest you paid to the IRS.