So, if I don't have the desktop version of Turbotax, I'm screwed? Score one for TT:(
I'm finding it hard to believe that a Trust's overpayment of state taxes, which are an allowable excess deduction, can't be recouped if the 5/10k limit on state and local income tax has already been reached. One has nothing to do with the other. And when the excess payment is subsequently refunded by the state, the feds are just going to see that as income to be taxed next year.
Regardless, TT is a mess on K-1s, whether for Trusts or for MLPs. This is the last year I use it.
