I paid 42K for taxes from 22 in 24 can those be claimed as paid taxes . They of course impacted my income in 24 can i claim them as other taxes paid on my 2024 return?
I paid 42K for taxes from 22 in 24 can those be claimed as paid taxes . They of course impacted my income in 24 can i claim them as other taxes paid on my 2024 return?
Not federal taxes paid. You can deduct state taxes paid as an Itemized Deduction but only up to 10,000 because of SALT State And Local Tax. Which includes property tax, any state tax paid like for last year’s return and includes any state withholding from your W2s and any 1099s you have. And any taxes in W2 box 14 and 19 like SDI or VDI. You can only deduct up to 10,000 (5,000 MFS) for SALT State and local tax.
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Deductions and Credits
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