My question is, as I enter on the TT page for Itemized Deductions Schedule A, where it asks for amounts for
1/1/24-3/31/24
1/1/24- 5/31/24
1/1/24-8/31/24
1/1/24-12/31/24
My total through 8/31/24 exceeds the total TT has prepopulated. Then, when I calculate my total through 12/31/24 the difference between my total and TT total is the amount that TT shows on the summary of my deductions as the State and Local taxes greater than $10K.
SO- my question is- how to proceed.
1. Do I ignore it and assume it's OK since Turbo Tax's total lowered the State and local amount to reduce my deductions by the overage?
OR
2. I paid a large amount to the state in April, so do I exclude any additional State and local tax amounts since I have exceeded the $10K at that point?
AND on the annualized income side, I entered the amounts as received in the date boxes. I have a capital loss carryover. Do I divide it by 12 and then add it accordingly so it accumulates over the year? Or do I do nothing, in which case TT takes it out for me in the 1/1/24-12/31/24 prepopulated total?
