RobertB4444
Expert Alumni

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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