- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Are payroll taxes withheld deductable


- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Are payroll taxes withheld deductable
“Other Income Tax” is quite baffling at times. It is made up of taxes you have paid that you have reported on your return. BUT, it does not mean that they are all deductions, this is a summary of the amounts reported. The state income tax is included in your itemized deductions but Federal is just reported as payments made on your Federal return. (Unless of course, your state allows a deduction for Federal taxes!)
Included in that number is taxes withheld from your W-2 and estimated taxes, but it also can include the following:
State and local taxes paid with your 2015 return (filed in 2016), and Additional taxes paid on prior state and local tax returns in 2016.
Withholding reported on Forms 1099 and W-2 – this includes Federal and State withholding.
If you applied some or all of your 2015 tax refund to your 2016 taxes, the amount applied is included.
Still have questions?
Make a post