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2:30
intuit.com
Video: How to Claim State and Local Taxes on a Federal Tax Return
There are many states that collect income tax from residents, but are state income taxes deductible on your federal return? You might be surprised to learn that the IRS may allow you to deduct state income and real estate taxes in some cases. Check out this tax tip video to learn how you can save next time you file your taxes.
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Do you know the difference between federal, state, and local taxes? Understanding this matters more than you think. Federal taxes are paid to the IRS and fund things like Social Security, Medicare, national defense, and federal programs. State taxes support your state’s needs, such as schools, roads, and public services. Local taxes (city or parish) help fund police, fire departments, infrastructure, and local community services. Each one is calculated differently, and missing details can impact
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