|
The Motley Fool Discussion Boards
|
Previous Page | |
|
Financial Planning / Tax Strategies |
||
|
URL:
http://boards.fool.com/i-think-you-must-misunderstand-the-ny-itemized-16371531.aspx
|
||
| Subject: Re: Estimating State/Federal Taxes | Date: 12/31/2001 10:48 PM | |
| Author: lorenzo2 | Number: 56549 of 118623 | |
|
I think you must misunderstand the NY itemized deduction. Your state taxes are a deduction if you itemize on your federal return, but I've never heard of federal taxes being deductible on a state return. I had a quick look at the NY form, and it looks like the NY itemized deduction is more or less the same as it is in other states: you start with the federal deduction, then subtract state taxes included. That is, the NY deduction consists of all the federal deductions except for state income tax. Ok, I'm not a NY resident - but where in your form do you see anything about taking a state deduction for federal taxes? |
||
| Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us | ||