timing of state estimated payment

Discussion in 'Tax' started by Pico Rico, Dec 22, 2014.

  1. Pico Rico

    Pico Rico Guest

    is a state 2014 estimated payment paid 1/15/15 deductible on the Federal
    return in 2014 or 2015?
     
    Pico Rico, Dec 22, 2014
    #1
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  2. Pico Rico

    Alan Guest

    2015, the year you actually will pay it.
     
    Alan, Dec 22, 2014
    #2
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  3. Pico Rico

    Pico Rico Guest

    Thanks, that is what I have always thought.
     
    Pico Rico, Dec 22, 2014
    #3
  4. Pico Rico

    Mark Bole Guest

    Although, as I recall has been discussed in this forum before, if some
    of the 2014 state tax payment is both made and refunded in 2015, it can
    end up not being deductible (software typically has a worksheet for this).
     
    Mark Bole, Dec 22, 2014
    #4
  5. Pico Rico

    Alan Guest

    I received an email from someone asking about posting the estimated
    payment on 12/31/14.

    If you mail a check drawn on an account that has sufficient funds and it
    is postmarked 12/31/14, it is a 2014 payment.
     
    Alan, Dec 22, 2014
    #5
  6. Pico Rico

    W. Baker Guest

    : is a state 2014 estimated payment paid 1/15/15 deductible on the Federal
    : return in 2014 or 2015?

    2015. If you want the deduction for this year get the check in before
    the end of the year.

    Wendy Baker
     
    W. Baker, Dec 23, 2014
    #6
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