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New Member
posted Apr 12, 2023 5:40:44 PM

I owed federal taxes last year and have been paying every month. Can I write those payments off for this year's taxes?

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4 Replies
Level 15
Apr 12, 2023 5:42:19 PM

No.  Each year is completely separate.  What you owe for last year doesn't affect this year.

Level 15
Apr 12, 2023 5:42:25 PM

No.  Federal tax you paid is not deductible on your federal tax return.   There is a handful of states in which you can enter federal tax that you paid.

 

There are several  states that allow you to enter the federal tax you paid on your state return--Alabama, Iowa. Missouri, Montana, and Oregon.  If you are filing in one of these states watch for the deduction when you prepare your state return.

Level 2
Apr 12, 2023 5:45:35 PM

No.

I assume you mean under itemized deductions on Schedule A. State and local taxes are deductible (limits apply), but federal taxes are not.

If you paid estimated taxes for the current year's return, you will apply those payments towards your tax liability, but that is not a deduction.

New Member
Apr 12, 2023 6:08:49 PM

NO. That would be nice. But NO!

The wasteful federal govt. and the greedy and gluttonous "royal federal hogs" writing the rules and feeding at the taxpayer's expense would never give us, the great unwashed workers of the nation, such a break!