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Retirement tax questions
Both TurboTax Online (TTO) and TurboTax Desktop (TTD) should be allowing up to $40,000 in total deductions for State and Local Taxes (SALT) if your Adjusted Gross Income (AGI) is $250,000 or less filing Single ($500,000 (if MFJ). If you are using TTD you can see your SALT deduction detail by going to Forms view and reviewing Schedule A. If you are using TTO you can see you itemized deductions by doing the following:
- Type "Itemized Deductions" into search
- Click on "Jump to itemized deductions" link in Search results
- On the "Your tax breaks" page scroll down to the bottom and click on "Continue"
- Depending on what other items are in your return you may see additional screens -
- Continue through these screens until you see the screen with a comparison of Itemized Deductions and the Standard Deduction
- Click on the arrow next to "Show me the estimated breakdown"
- This will reveal a detail of your itemized deductions.
If you are seeing limitation on your SALT deduction, please respond and let us know if you're using TTO or TTD and where exactly you are seeing the deduction being limited. Screenshots would be helpful.
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