Timeline for Can I deduct 2011 state income tax paid from my Federal taxes?
Current License: CC BY-SA 3.0
7 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Nov 27, 2012 at 2:00 | comment | added | JTP - Apologise to Monica♦ | If you are itemizing and taking mortgage interest, don't forget property tax. | |
| Apr 9, 2012 at 8:40 | history | tweeted | twitter.com/#!/StackFinance/status/189271597297827841 | ||
| Apr 8, 2012 at 18:55 | comment | added | stackoverflowuser2010 | You are right. However, in practice if you are paying mortgage interest, that amount by itself will almost certainly exceed the standard deduction, particularly in California. | |
| Apr 8, 2012 at 11:58 | comment | added | Dilip Sarwate | You should not be itemizing deductions just because you have mortgage interest to deduct; itemize if the total on Schedule A - medical expenses exceeding 7.5% of income plus state income/sales tax plus property tax plus charitable deductions etc - exceeds the standard deduction to which you are entitled. Most tax preparation programs will work out numbers both ways, so see which is more beneficial. Of course, if you have to itemize deductions because you are filing MFS and your spouse is itemizing deductions, that is a different matter. | |
| Apr 8, 2012 at 8:21 | answer | added | user102008 | timeline score: 8 | |
| Apr 8, 2012 at 5:53 | comment | added | f1StudentInUS | Yes, You can on your itemized deductions | |
| Apr 8, 2012 at 4:56 | history | asked | stackoverflowuser2010 | CC BY-SA 3.0 |