New York state has a SALT cap workaround with charitable contributions described here: https://www.tax.ny.gov/research/stats/stat_pit/preliminary-report-tcja-2017.htm (Note: there were ramblings of IRS closing this workaround, but those rules are still in "proposed" state and not in effect)
It means that If I donated money to charity in 2019, I should be able to reduce my NY tax by that amount in 2020. I'm doing my taxes in Turbo Tax Deluxe 2020 now, I put in my charitable contribution, but I don't see the option to reduce my NY tax. Where do I find this option?
This screen is shown on the page titled, New York Charitable Gift Trust Fund. Please note, this only applies to two different types of funds, which are:
You will get to this screen as you are going through your return. I have attached a picture of the screen below for additional guidance.
This screen is shown on the page titled, New York Charitable Gift Trust Fund. Please note, this only applies to two different types of funds, which are:
You will get to this screen as you are going through your return. I have attached a picture of the screen below for additional guidance.