I'm stuck on the "Itemized deduction for total taxes" amount at the "Confirm Your 2021 Federal Return Info" screen.
Turbo Tax is displaying the amount equal to "State and local taxes after limitation". In the Schedule A of the 1040 form, this amount is present in 5d, 5e, and 7 of the "Taxes You Paid" section. The "Total Itemized Deductions" section, however, shows a significantly bigger amount in 17 which is a sum of the amounts in the "Medical and Dental Expenses", "Interest You Paid", "Gifts to Charity", and "Casualty and Theft Losses" sections.
What amount should I go with for "Itemized deduction for total taxes" - a suggested by TurboTax smaller one in the "Taxes You Paid" section or change it to a bigger one in the "Total Itemized Deductions" section?
I'm a Colorado resident if this matters.
Thank you.
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You need to enter the amount that was deducted within your Total Itemized Deductions that is only for taxes. The smaller number is correct.
Yes, I did a long investigation and found this out too. Thank you.
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