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Financial Planning / Tax Strategies


Subject:  Re: Unreported Income Date:  4/9/2005  12:08 PM
Author:  TMFPMarti Number:  78458 of 132481

Where (on my 2004 return using TT) do I report this deficiency -- state or federal?

The state tax you paid is a Schedule A itemized deduction. If you paid the state interest and you're still running the same consulting business, you can deduct the interest paid on Schedule C.

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