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Mass. State Tax Question Re Deductability On Federal

Hello,

Thanks for previous help; nice of you folks to take the time. Very appreciated.

This has always confused me. Let me use some arbitrary numbers in my question, as it's probably easier to explain with numbers:

In 2018, I sent four Estimated Tax payments of $500 each to the State (Mass.) Fine, I assume that I can deduct these on the Federal when I do the Federal 1040 now.

But, I also sent them (the State) a $300 additional check in the early part of 2018 along with my tax return for tax year 2017.

Is this "also" deductable on the Federal now, as it was sent in 2018 ?

Thaks, Bob

Reply to
Robert Rose
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Yes, provided that you made all four payments IN 2018, as you said. If you made the fourth estimated tax payment in January 2019, you cannot deduct that on your 2018 federal tax return. It would go on your 2019 return.

Yes. On your 2018 federal tax return you can deduct any state income tax payments that you made IN 2018, no matter what year they were for.

Of course, your deduction is subject to the $10,000 limit ($5,000 if married filing separately) on state and local taxes ("SALT"). The maximum applies to the total of real estate tax, personal property tax, and either state and local income tax or state and local sales tax.

Bob Sandler

Reply to
Bob Sandler

Hi,

Just a quick thanks for help; much appreciated. Will blame my ignorance on "old age" now.

Thanks again, Bob

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Reply to
Robert Rose

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