Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
vick1185
New Member

I paid a $40 penalty on my 2016 CA state tax due to low estimated tax payments. Is that deductible as part of the 2016 tax paid?

 
1 Best answer

Accepted Solutions
IsabellaG
Employee Tax Expert

I paid a $40 penalty on my 2016 CA state tax due to low estimated tax payments. Is that deductible as part of the 2016 tax paid?

No, penalties and interest are not deductible. Only the CA state tax paid in 2017 is deductible.

**Join us for our "All about the refund" event, sign up here

**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
IsabellaG
Employee Tax Expert

I paid a $40 penalty on my 2016 CA state tax due to low estimated tax payments. Is that deductible as part of the 2016 tax paid?

No, penalties and interest are not deductible. Only the CA state tax paid in 2017 is deductible.

**Join us for our "All about the refund" event, sign up here

**Mark the post that answers your question by clicking on "Mark as Best Answer"

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~