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Can I make 4th quarter California estimated tax payment in December and deduct it this year?
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Can I make 4th quarter California estimated tax payment in December and deduct it this year?
Yes, you can. It would be reported as an itemized deduction on your federal return Form 1040 Schedule A. And a tax payment made in 2017 on your California tax return. If paid on or before 12/31/2017.
To enter, edit or delete estimated taxes paid (Federal, State, Local) -
- Click on Federal Taxes (Personal using Home and Business)
- Click on Deductions and Credits
- Click on I'll choose what I work on (if shown)
- Scroll down to Estimates and Other Taxes Paid
- On Estimates, click on the start or update button
Or enter estimates paid in the Search/Find box located in the upper right of the online program screen. Click on Jump to estimates paid