Hi,
One of the new tax laws in the Big Beautiful Tax Bill that affects states like NJ is you can now deduct SALT up to $40K. I incorrectly thought the amount TurboTax would use was my actual state tax as calculated by TurboTax. Instead, it uses cash flows in 2025 (actual estimated payments within 2025). My 4rth quarter payment was in November, but TurboTax defaulted Jan. 15, 2026, as my 4rth qtr. payment. Consequently, my estimated payment for 2025 fell outside 2025 and thus not included in my SALT deduction. I changed the date for my 4rth qtr. to November 2025 and thus my estimated payment was included in my SALT deduction. When Net Investment Tax is calculated TurboTax also adjusts the amount by the proportion of "estimated tax"/AGI. This is something to keep your eye on. I never liked going past 12/31 for estimated tax and now I have some good reason!
Hope this helps!
Dave
