is a state 2014 estimated payment paid 1/15/15 deductible on the Federal return in 2014 or 2015?
timing of state estimated payment
Dec 22, 2014
5 Replies
2015, the year you actually will pay it.
Thanks, that is what I have always thought.
Although, as I recall has been discussed in this forum before, if some of the 2014 state tax payment is both made and refunded in 2015, it can end up not being deductible (software typically has a worksheet for this).
I received an email from someone asking about posting the estimated payment on 12/31/14.
If you mail a check drawn on an account that has sufficient funds and it is postmarked 12/31/14, it is a 2014 payment.
Pico Rico wrote: : is a state 2014 estimated payment paid 1/15/15 deductible on the Federal : return in 2014 or 2015?
2015. If you want the deduction for this year get the check in before the end of the year.Wendy Baker
Join the Discussion
Have something to add? Share your thoughts — no account required.
Didn't find your answer?
Ask the community — no account required