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What Taxes Are Deductible?

You can deduct, on Schedule A as an itemized deduction, certain taxes that were imposed on you that you paid during the year. You cannot deduct taxes paid for another party, if you are not also liable for payment of the tax.

Deductible taxes include:

  • State and local income tax.
  • Payments to certain state benefit funds (including California state disability insurance) that are imposed as taxes.
  • Foreign income taxes (unless you elect to claim the credit on Form 1116).
  • Real estate taxes on property you own (but not just amounts impounded by the mortgage company, until the taxes are actually remitted to the taxing authority).
  • Your share of real estate taxes on a co-op apartment.
  • Personal property taxes.

You CANNOT deduct:

  • Federal income taxes.
  • FICA tax withheld.
  • Charges imposed by taxing districts for improvements or services, such as garbage collection or sewers.
  • Sales taxes.
  • Federal and state excise taxes.
  • Fees for drivers licenses, dog licenses, hunting or fishing licenses.

 

 

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Disclaimer
We do not offer legal advice. All information provided on this website is for informational purposes only and is not a substitute for proper legal advice. If you have legal questions, we recommend that you seek the advice of legal professionals.

Tax Disclaimer: To ensure compliance with IRS Rules, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer under the Internal Revenue Code, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.

Copyright 2017 Wink Tax Services / Wink Inc.
Last modified: January 30, 2017