I'm I allowed to Deduct Exemptions like state tax from our main income. Or should I be using only the 104OEx form.
2007-02-05 01:20:48 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
I've never been able to take a deduction for state taxes owed or payed on a1040A. But really would you honestly trust someone here on Yahoo Answers to give you solid advice about your taxes? I'd be calling the 1-800 number to the IRS and ask them.That is if your really concerned about getting them right.
2007-02-05 01:26:31 · answer #1 · answered by Anonymous · 0⤊ 1⤋
If you itemize or have rental income, you had to have filed Form 1040 if you claimed those items.
If you no longer have enough itemized deductions to warrant itemizing, you can file Form 1040A or possibly even Form 1040EZ.
2007-02-05 01:25:42 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
I'm an accountant - You can deduct state income taxes, but you have to itemize your deductions, using Scedule A.
2007-02-05 01:24:36 · answer #3 · answered by jim 6 · 0⤊ 0⤋
To itemize, you have to file a 1040, not 1040A.
2007-02-05 06:13:07 · answer #4 · answered by Judy 7 · 0⤊ 0⤋