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Level 2
April 10, 2022
Solved

Can taxpayer deduct prior year state taxes paid on Schedule A for 2021?

  • April 10, 2022
  • 2 replies
  • 9 views
Taxpayer paid NYS taxes dating from 2003 to 2015 thru Offer in Compromise. Can taxpayer deduct prior year taxes on Schedule A 2021. Taxes were paid 2021,
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Best answer by sjrcpa

Yes - tax portion only. Not interest and penalty. And $10,000 SALT cap applies.

2 replies

sjrcpa
sjrcpaAnswer
Level 15
April 10, 2022

Yes - tax portion only. Not interest and penalty. And $10,000 SALT cap applies.

The more I know the more I don’t know.
Level 2
April 11, 2022

Thank you. Can the taxpayer claim the remaining in future years?