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Deductions & credits
This was the guidance from the QEE organization - "Only if you did not reach the $10,000 maximum in SALT (state and local) tax deductions may you deduct your GOAL contribution (up to that $10,000 SALT cap). In this situation, please see these TurboTax instructions for taking a deduction for your GOAL contribution as “additional state income taxes paid.”
The TurboTax instructions describe how to add the contribution as a State Estimated Tax Payments for 2020 (the year of contribution).
March 16, 2021
6:27 AM