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After itemizing my federal return including mortgage interest, Turbotax selected the standard deduction to be best for my situation. Now I'm doing my California State tax return and Turbotax asks, "qualifying interest that was disallowed on your federal return..." Can I enter all of my mortgage interest here?
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There isn't a requirement that you have to claim a standard deduction on the state if is claimed on the federal. Therefore, you will enter the entire amount of the qualifying mortgage interest.
Please bear in mind the CA return will only use your itemized deductions if the total amount of itemized deductions exceed the CA standard deduction.
There isn't a requirement that you have to claim a standard deduction on the state if is claimed on the federal. Therefore, you will enter the entire amount of the qualifying mortgage interest.
Please bear in mind the CA return will only use your itemized deductions if the total amount of itemized deductions exceed the CA standard deduction.
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