IRS said I underpaid 2006 tax and sent me their recalculation in 2007 with an amount due and small penalty/interest, which I paid in 2007. Where should this additional tax payment be recorded?
- posted
15 years ago
IRS said I underpaid 2006 tax and sent me their recalculation in 2007 with an amount due and small penalty/interest, which I paid in 2007. Where should this additional tax payment be recorded?
"Bob" wrote
In your checkbook.
There are no federal deductions allowed for federal tax paid.
Since it applies to a prior year, there are no current year credits or off-sets to be made (like there is for estimated payments, etc).
Some states allow for a deduction on their return for federal income tax paid, so look into that.
Right. Did you end up owing the state where you live money as well?
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