The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Estimating State/Federal Taxes Date:  1/1/2002  12:06 PM
Author:  lorenzo2 Number:  56564 of 127549

lorenzo2 sez: I've never heard of federal taxes being deductible on a state return.

pmarti replies: I'm told Colorado allowed this deduction at one time, and I'm pretty sure Iowa does today.

Well, so it does. I just had a look at the Iowa form, which has a few other interesting items:

- Chickadee Checkoff, a contribution to a state Fish and Wildlife fund;

- Corndog Checkoff, a contribution to help fund capital improvements to the State Fairgrounds, where I guess they sell a lot of corndogs.

They also allow a deduction for your auto registration fee, calculated as follows: deduction = fee - (weight of car)/250. If it's a pickup truck full of corndogs, you may get no deduction at all.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us