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My return shows a -365.00, however I did not have 10,000 in state and local taxes. what should I do
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My return shows a -365.00, however I did not have 10,000 in state and local taxes. what should I do
Do you mean that the -$365 is being listed on the information page about your itemized deductions? If so, then your state and local taxes are over $10,000.
The $10,000 limit is not just for property taxes but for all state and local taxes. Therefore, all state withholding income tax amounts reported on your return would be included in the state and local tax amount as well.
For the -$365, TurboTax is showing you the amount you are not able to claim with that negative number. It's only for your reference as it does not get factored into the return.
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