2005 income tax increase and paid in 2007, can I deduct from 2007 income tax return?

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03-02-2008, 05:50 PM

SM S

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2005 income tax increase and paid in 2007, can I deduct from 2007 income tax return?

I received the notice from IRS in 2007 for an error on my 2005 Federal income tax return, as a result, I paid about $1300... $950 for 2005 tax underpayment, $200 for penalties, and $150 for interest. I made payment in 2007, can I include any of these on my 2007 federal income tax return? Thanks

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