Submitted By: Anne
Answered: May 22, 2015 12:01 pm

I paid federal tax when I filed my 2013 return at the beginning of October. Can I deduct this payment on my 2014 return?

No, federal income taxes are not deductible. But if you also paid state income tax in 2014 for 2013, you can deduct it on your 2014 federal income tax return.

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Tax Glossary

Foreign tax credit

A credit for income taxes paid to a foreign country or U.S. possession. 401(k) plan. A deferred pay plan, authorized by Section 401(k) of the Internal Revenue Code, under which a percentage of an employee’s salary is withheld and placed in a savings account or the company’s profit-sharing plan. Income accumulates on the deferred amount until withdrawn by the employee at age 59?

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