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kmdaye
April 3, 2025
Question

can you deduct your state income taxes applied to your investments on line 9b form 8960 if you took the standard deduction?

  • April 3, 2025
  • 1 reply
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    S
    SabrinaD2
    April 3, 2025

    No, you cannot deduct state income taxes applied to your investments on line 9b of Form 8960 if you took the standard deduction. Here's a concise summary:

    • Standard Deduction: If you take the standard deduction, you cannot itemize deductions, including state income taxes.
    • Form 8960: Line 9b allows deductions for state, local, and foreign income taxes only if they are properly deducted on your income tax return, which requires itemizing

    For more detailed information, you can refer to:

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