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Deductions & credits
The deduction for taxes on your schedule A (the form for itemized deductions) is only allowed to be $10,000 or less.
When you have more than $10,000 in deductions then your schedule A says "Total amount of deduction" and has all of the taxes that you entered and then a negative for the amount over $10,000 and then the allowed deduction for $10,000.
The negative number is just the amount that you're not allowed to deduct.
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‎February 24, 2022
12:33 PM
5,569 Views