I am doing my taxes by myself for the first time, and I heard somewhere that your state income taxes can be a write off on your federal income tax. Is that true?
Posts tagged ‘State’
I have NM state taxes withheld from my pension. This year I also worked in CO and state taxes were withheld there. Will I have to pay state tax on the $ earned in CO in NM and will I have to try to recover that CO $ by filing a tax return in both NM and CO?
My wife and I are buying a new house in MD where the state and county transfer taxes will be about $8000. We are going to close in December this year, but will probably take a standard deduction. Can we deduct the property transfer tax even though we are going to take the standard deduction this year? Are transfer taxes deductions or credits?
“If you paid state and local income taxes in 2007 for a prior year (such as taxes paid in 2007 as a balance due on your 2006 state income tax return), include this amount as other state and local income taxes paid.
Other state and local income taxes: $____”
While filing online, I got an alert here. I did not enter anything in. What exactly is the question asking?