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How to Deduct State Taxes on Your Tax Return

Deduct States Taxes on Schedule A

The federal government allows you to deduct state taxes on your federal income tax return, but only if you elect to itemize deductions on Schedule A instead of taking the standard deduction. If you live in one of the 41 states that impose an income tax on its residents, the IRS allows you deduct the state income tax payments you make during the year. If you are employed, the W-2 you receive each year will report the annual state income taxes withheld from your salary–which is the amount you can deduct on Schedule A.

It isn’t necessary to prepare your state income tax return before reporting your deduction on Schedule A. However, if the state income tax payments you make exceed your actual liability and you eventually receive a state income tax refund–you must report that refund as taxable income on next year’s 1040. Your state will send you a 1099-G to report all income tax refunds you received in the prior year.

Deduct State Taxes This Year and Make Adjustments Later

Suppose your employer withholds $5,000 during the year to pay your New York State income taxes. If after you file your state return, you calculate your New York tax bill as $4,500–you will receive a $500 state income tax refund. But since you deducted $5,000 on Schedule A, the IRS expects you to correct your state income tax deduction in the next tax year. Rather than filing a 1040X form to amend your return, you simply include the $500 refund–which you will receive a 1099-G for–on your next tax return. After two years, the net results is a $4,500 state income tax deduction.

Deduct Sales Tax Instead

It is important to keep in mind that Schedule A also allows you to deduct sales tax payments. However, you can’t deduct your state sales tax payments and state income tax payments in the same year–you must choose one or the other. Since you can choose the larger of the two deductions, it’s a good idea to estimate your sales tax payments using the tables in the instructions to Schedule A before deciding which deduction to take.

Reference: IRS Publication 17-Your Federal Income Tax