Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
krado
New Member

Fed taxes, Ded/Cred, Inc taxes paid, TT auto includes all State taxes paid ($19K; exceeds the $10K State limit), as well as Federal taxes already paid. Is this correct?

 
1 Best answer

Accepted Solutions
AnthonyC
Level 7

Fed taxes, Ded/Cred, Inc taxes paid, TT auto includes all State taxes paid ($19K; exceeds the $10K State limit), as well as Federal taxes already paid. Is this correct?

Yes, the screen section you are referring to - while it shows under Deductions and Credits, it’s actually just a summary number and not necessarily related to any particular deduction (some of it is not even a deduction - i.e. federal taxes withheld on your federal return).  

It summarizes ALL of the taxes you have paid either directly or through withholdings on Forms such as W2s, 1099s, etc for both your federal and state returns.  For example, that number would include both of your Federal and state withholdings from your W2s.  It can also include local taxes, refunds applied to this year's taxes from a prior year, balances due from prior years that were paid in this year, and payments made with any extension you might file.

Also, if you scroll down past the Tax Breaks page on the Deductions and Credits screen to the Estimated and Other Taxes Paid.  Click Show More.  Then select Income Taxes Paid.  You will see a blue link that will give you a breakdown of the actual number even further if you want to see it.  See screenshots

View solution in original post

1 Reply
AnthonyC
Level 7

Fed taxes, Ded/Cred, Inc taxes paid, TT auto includes all State taxes paid ($19K; exceeds the $10K State limit), as well as Federal taxes already paid. Is this correct?

Yes, the screen section you are referring to - while it shows under Deductions and Credits, it’s actually just a summary number and not necessarily related to any particular deduction (some of it is not even a deduction - i.e. federal taxes withheld on your federal return).  

It summarizes ALL of the taxes you have paid either directly or through withholdings on Forms such as W2s, 1099s, etc for both your federal and state returns.  For example, that number would include both of your Federal and state withholdings from your W2s.  It can also include local taxes, refunds applied to this year's taxes from a prior year, balances due from prior years that were paid in this year, and payments made with any extension you might file.

Also, if you scroll down past the Tax Breaks page on the Deductions and Credits screen to the Estimated and Other Taxes Paid.  Click Show More.  Then select Income Taxes Paid.  You will see a blue link that will give you a breakdown of the actual number even further if you want to see it.  See screenshots
Privacy Settings
v