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Hello all! I tried to find this in the FAQ but to no avail. For the first time in my life, I actually owed IRS money in April 1999 for tax year 1998. I was wondering, if, for example, I owed $2000 in taxes for 1998, could I deduct that $2000 from my 1999 income? My reasoning is, I used 1999 money to pay 1998 taxes, so why would I get taxed again on the $2000 that the IRS already has?
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