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oao123
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At what point does the software compute my SALT deduction?

 
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4 Replies

At what point does the software compute my SALT deduction?

As you enter in any order:

  • State income tax
  • local income tax if any
  • local property tax, whether auto registration related (as allowed) or real estate property tax
  • or alternatively, if no income tax, then sales tax

the program keeps a running total and uses that until the maximum allowed of $10,000 for a married couple.

If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67


NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3

- Just donating my time
**Say Thanks by clicking the thumb icon in the lower left corner -it means nothing but makes those than answer feel wanted.

At what point does the software compute my SALT deduction?

Once I hit the $10K, TT will not allow entry into any SALT type tax field.  TT should accept ALL data and do the $10K cap calculations in a worksheet.  It also appears that TT will not accept input of estimated/quarterly taxes paid in 2018 after I hit the $10K limit on SALT?  This would be an error in the system.

At what point does the software compute my SALT deduction?

@gordongrand  It seems you have misinterpreted what was on the screen? So instead of dinging the answer, read the further explanation
If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67


NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3

- Just donating my time
**Say Thanks by clicking the thumb icon in the lower left corner -it means nothing but makes those than answer feel wanted.

At what point does the software compute my SALT deduction?

TurboTax does indeed operate to limit the legal maximum deductible to the Federal government imposed limit of $10,000.  You are indeed presented a screen that tells you this limit on deduction has occurred.  However, reading the rest of the screen tells considerably more, and it helps to read all and not just some of what is on the screen.

What is does not tell you is that it is preventing you from having recorded the excess, and to say so is a misreading of the screen.  In fact, for other purposes than the SALT limitation, those excess taxes paid are recorded and may be used in some other context.

READ the attachment and ALL of the Text in that first page!

If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67


NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3

- Just donating my time
**Say Thanks by clicking the thumb icon in the lower left corner -it means nothing but makes those than answer feel wanted.
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