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

Kiddie tax

The tax on the investment income in excess of $1,700 (may change after 2007) of a child under age 18, based on the parents’ marginal tax rate and computed on Form 8615.

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