Catherine White <cgrantNoSpam[at]alum.mit.edu> wrote:

- quote -

I also assumed that the OP was asking only about Federal
taxes - but I thought the answer should be generalized :-)

--
Vic Roberts
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- quote -

Yes, Vic, you're right. I made the assumption (shame on
me!) that the OP was asking about _Federal_ taxes, as I
didn't recall any mention of state issues.

Catherine

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Catherine White <cgrantNoSpam[at]alum.mit.edu> wrote:
- quote -

Thanks - I had forgotten that the OP had mentioned his
estimated taxes when asking the question. But, just for
clarity, isn't 1040 Line 65 only for Federal estimated
income tax payments - since they are credited against your
Federal tax liability? If someone also made state or local
estimated tax payments, don't the end up in the Itemized
Deduction section of their federal return just State and
Local taxes that were withheld?

--
Vic Roberts
Replace xxx with vdr in e-mail address.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Victor Roberts <xxx[at]lighting-research.com> wrote:
- quote -

Vic is right about the section called "taxes" -- it is for
property tax, state/local taxes, etc. There is a different
section for reporting estimated tax payments made. In the
downloaded program, there is a worksheet. I don't know
where it is in the web format program. However, on the
1040, see Line 65 for "estimated tax payments made". Enter
your total estimated tax payments there, if there is no link
to inputting your quarterly amounts with dates.

Catherine
- quote -

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

oxtrot <radios[at]nospam.com> wrote:

- quote -

I'm surprised that no one has responded, so let me give this
a try, though I am a rank amateur here. Also, this answer is
not specific to TaxAct on-line since I have never used that
product.

I would assume that the section for "taxes" in the itemized
deductions refers to local property tax and state & local
income taxes, or state & local sales tax if the taxpayer
decided to use the optional sales tax deduction last year in
place of the state & local income tax deduction.

--
Vic Roberts
Replace xxx with vdr in e-mail address.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

I am using the version of TaxAct that is on the web for my
1040 tax preparation.

When you have figured your taxes and are almost done there
is a part where you can compare your taxes with last years
return. There is a category called "Standard or Itemized
Deductions". Under this category is first "Medical
Expenses," and then "Taxes.", and several others. I use the
standard deduction when figuring my taxes. What is the box
called "taxes" for and how is the number that appears
figured? The only taxes that I have paid so far are
estimated taxes. I am retired and the only income that I
have is from Social Security and investment income.

JS

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >