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Deductions & credits
Why would TT ask for the amount of 2016 Sales Tax "that I could have taken" on Item D? In the "instructions" TT tells why right after the instruction for Item D. It states: "Why the program is asking for this amount: The program needs this information to properly compute the tax benefit amount. Only the excess of the income tax deduction over the sales tax deduction yielded a tax benefit in 2016. This amount is used in the computation of refigured itemized deductions on line 7 of the worksheet."
If I complete Item D it reduces my 2017 tax but I do not know why...and I want to be sure. Thanks for your response!!!
If I complete Item D it reduces my 2017 tax but I do not know why...and I want to be sure. Thanks for your response!!!
‎June 1, 2019
12:14 PM