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I was assessed a$1000 late filing fee or my state taxes 2015. Can I deduct this from this years federal taxes?
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I was assessed a$1000 late filing fee or my state taxes 2015. Can I deduct this from this years federal taxes?
No. Penalties, fines or interest for late payment of your taxes are not deductible. You could enter the amount of the actual tax paid, but not the interest, etc. they charged you.
If you paid taxes due in 2016 to your state or local government, you can enter that by going to Federal> Deductions and Credits> Estimates and Other Taxes Paid> Other Income Taxes. You can enter the taxes you paid, but do not include any penalties or interest.
- Mark as New
- Bookmark
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I was assessed a$1000 late filing fee or my state taxes 2015. Can I deduct this from this years federal taxes?
No. Penalties, fines or interest for late payment of your taxes are not deductible. You could enter the amount of the actual tax paid, but not the interest, etc. they charged you.
If you paid taxes due in 2016 to your state or local government, you can enter that by going to Federal> Deductions and Credits> Estimates and Other Taxes Paid> Other Income Taxes. You can enter the taxes you paid, but do not include any penalties or interest.