Deduction of City Business & Occupation Tax paid the year after business was sold

damphamus · ‎March 30, 2020

My wife sold her business in July 2019 and is filing her return as a sole proprietor. Could she deduct the B & O tax for 2019 which was filed and paid to the city government in January 2020?

ThomasM125 · ‎March 30, 2020

She can deduct the tax on her final business tax return even though it was paid in the next tax year.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

ThomasM125 · ‎March 30, 2020

She can deduct the tax on her final business tax return even though it was paid in the next tax year.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

Deduction of City Business & Occupation Tax paid the year after business was sold