NY State Income tax quarterly instalment payment made on 1/17/17..1- Can this quarterly instalment payment be incorporated under "TAXES YOU PAID" when completing the Federal Itemimez deductions (Schedule A)? Thank you in dvance for your reply.

[tessie2701]

When completing my NY IT201, does this quarterly instalment paid on 1/17/17 qualify for a payment for my tax due for the year 2016? Thank you in advance for your reply.

[AmyT · Accepted solution]

The payment that you made in January for your state taxes is treated as a 2016 payment for the purposes of your state return.  However, since the payment was made in 2017, it is not an itemized deduction for federal tax purposes in 2016.

You will be able to deduct this payment on your 2017 tax return.  

If you would like to be able to deduct your 4th quarter estimated tax payment in the future, it should be placed in the mail or initiated no later than December 31 of the tax year.