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New Member
posted Jun 5, 2019 6:08:19 PM

Unable to understand the federal deductions applied

I see that the following was used to calculate the itemized deductions:

1. Taxes paid with state or local tax return
2. Federal Withholding
3. State Withholding

I am not able to understand #1 i.e. Taxes paid with state or local tax return

Can you please explain?

0 2 507
1 Best answer
New Member
Jun 5, 2019 6:08:22 PM

When you completed your state tax return for the 2015 tax year, if you owed the state money and you paid that money in 2016, you would be able to take a deduction for the amount paid to the state.

If your state tax return for 2015 resulted in a refund to you, this does not apply.

2 Replies
New Member
Jun 5, 2019 6:08:21 PM

I transferred after tax contributions from my company 401k to a Roth IRA and it looks like I have to pay taxes on it.  since I already paid taxes.

New Member
Jun 5, 2019 6:08:22 PM

When you completed your state tax return for the 2015 tax year, if you owed the state money and you paid that money in 2016, you would be able to take a deduction for the amount paid to the state.

If your state tax return for 2015 resulted in a refund to you, this does not apply.