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I filed for an extension and made payments for income tax I owed during 2021. Can I deduct the payment total and if so where do I enter that information?

 
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3 Replies
JohnB5677
Employee Tax Expert

I filed for an extension and made payments for income tax I owed during 2021. Can I deduct the payment total and if so where do I enter that information?

Yes, you will get credit for the payment that you made.

  1. Go to Deductions & Credits
  2. Scroll down to Estimated Tax Payments
  3. Select a Federal, State, or Local payment
  4. Did you pay federal estimated taxes for 2021? = Yes
  5. Enter the payment in the Fourth Quarter and change the date

 

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I filed for an extension and made payments for income tax I owed during 2021. Can I deduct the payment total and if so where do I enter that information?

You have provided info on entering estimated tax, however, my question is in regards to extra tax I owed for income earned as a W-2 employee for another company I do not own.  Does this change your answer?  Thanks

LenaH
Employee Tax Expert

I filed for an extension and made payments for income tax I owed during 2021. Can I deduct the payment total and if so where do I enter that information?

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. Therefore, you cannot deduct a balance due for your 2020 federal return paid in 2021. 

 

@theserravos

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