I had a balance due for my federal and state 2016 taxes. I paid both balances in 2017. Can I claim these federal and state taxes on my 2017 return?
Unfortunately, you cannot deduct the federal taxes you paid. However, you can deduct state taxes as an itemized deduction on Schedule A. If you choose to itemize your deduction to claim state taxes you will not be able to take the standard deduction. You should calculate both the standard deduction method and the itemized method to determine which is most beneficial to you.
What does it mean to be an enrolled agent? Learn more about the roles and requirements of enrolled agent (EA) tax preparers at H&R Block.
Looking for virtual tax help with your online filing? Learn more about your options by comparing TurboTax Live to H&R Block Tax Pro Review and Tax Pro Go.
Are you a K-12 educator? Are your classroom supplies paid out of pocket? This year, get schooled on important teacher tax deductions that may help you save cash when filing taxes.
Due to the recent TCJA changes, we have re-released our trusted Tax Calculator. With a side-by-side comparison, you can now plan for this year's tax filing.