Do we get a tax deduction or credit for paying taxes in 2007?

my wife and I payed $1k to fed and $500 to state in 2007. Do we get any kind of credit or deduction when we file our taxes in 2008?

Do we get a tax deduction or credit for paying taxes in 2007?
If you itemize, you can deduct the state tax payment. Not the federal.
Reply:you can file this payment on your next years taxes and get a credit, to add to your deductions.
Reply:When you itemize you take credits or deductions for taxes paid.


You are still eligible for the tax rebate in May.
Reply:Federal taxes paid are never a deduction (except on a State of Iowa return).





State taxes paid are deductible on your Federal Return as an itemized deduction on Schedule A. If you do not itemize, then no deduction.