@Zbucklyo @pk Unfortunately, ZBucklyo is on target that the Congress did a 1/2-vast job in implementing the changes. The reason that this is detrimental to
@lescarrs is that Form 1116 Part I lines 2-3 take into account the Deductions (Itemized or Standard) on 1040 and then calculate a ratio on line 3f that is used to determine the allowable basis for the credit then calculated from the foreign taxes paid. Thus, SALT does blunder into the equation.
@lescarrs While the SALT limitation shows up in Form 1116, this does not inhibit you, as a California taxpayer. See next answer.
If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67
NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3
- Just donating my time
**Say Thanks by clicking the thumb icon in the lower left corner -it means nothing but makes those than answer feel wanted.
