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credit on 2023 return for tax paid in 2024???
It is 2024, and I am filling out state tax returns for 2023. I am resident in CA and pay taxes in CA. I also received income in 2023 from AR, and must file an AR return for that income, which I will pay in 2024 when I file (and which will be deductible on my CA tax return).
But when I fill out my 2023 AR return, showing tax due to AR, Turbotax automatically gives me a credit for that amount on my 2023 CA return.
That's wrong, isn't it? I can only claim a credit for taxes paid to AR in 2023 on my 2023 CA return, not taxes paid in 2024. I think Turbotax is wrong to give me a credit on my 2023 CA return for taxes paid to AR in 2004.
Anyone else experienced this?
March 16, 2024
5:42 PM