A cash-basis taxpayer paid an estimated state intangible, Ask an Expert

Management Studies

A cash-basis taxpayer paid an estimated state intangible property tax. The tax was paid early, and the state law did not have any provision for such prepayments. May the taxpayer deduct the estimated payment as taxes on her federal income tax return, assuming that the state accepts the payment?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M91671574

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