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TJSmith57
New Member

Iowa STO Contribution for Federal itemized deductions and tax credit for Iowa

I use TurboTax Home and Business 2024 desktop version. I made a $1,000 contribution to an Iowa STO and Iowa STO reporting information indicates that this contribution cannot be claimed as both an itemized deduction and a credit. I have three related questions:

1> Do I understand that the full $1,000 can be claimed as a Federal contribution?

2> How do I remove the $1,000 as an itemized deduction from my Iowa return and claim the credit for Iowa?

3> If the credit is more than my tax due (after Iowa income tax withholdings), can it be used to obtain an Iowa tax refund, and if not, how can the excess credit be used?

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