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specific item tax deduction appears wrong

Tax and interest Deduction Worksheet section D column 8 shows specific item tax deduction as 1% of the amount in column 7 (Actual sales amount paid).  This makes no sense whatsoever.

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4 Replies
MonikaK1
Expert Alumni

specific item tax deduction appears wrong

I have not encountered this problem with the Tax and Interest Deduction Worksheet. 

 

In order for us to troubleshoot this issue, you can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions for TurboTax Desktop users:

 

  1. From the black bar at the top of your screen, select Online
  2. Click Send Tax File to Agent
  3. Click Send on the message that pops up
  4. TurboTax will create a "sanitized" copy of your return information with no personal info
  5. Post the 7-digit token number here in this thread

Here are the instructions for TurboTax Online users: 

 

Go to the black panel on the left side of your program and select Tax Tools. 

  1. Then select Tools below Tax Tools. 
  2. A window will pop up which says Tools Center.  
  3. On this screen, select Share my file with Agent. 
  4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 
  5. Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.  

 

We will then be able to review your file to see what you are seeing, and we can determine what is going on in your return and provide you with a suggested resolution.

 

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specific item tax deduction appears wrong

1097744

MonikaK1
Expert Alumni

specific item tax deduction appears wrong

Thank you for providing the code. I have analyzed the data file and I see what happened.

 

In column 2. your TX state and local tax rate is shown (8.xx%). In column 6, which is a user entry, the "rate if different" where the car was purchased is shown as a decimal (e.g. .06xx) instead of as a percentage rate (e.g. 6.xx%). TurboTax displayed the specific item deduction as 1% rounding up from the smaller decimal amount. 

 

Changing the entries in column 6 from a decimal to a percentage rate will correct the sales tax on the cars to show the full amount paid.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

specific item tax deduction appears wrong

Thanks - I need to pay closer attention!  The answer was right in front of me, if only I'd looked a few columns to the left...

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