in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
2949114
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.
You'll need to sign in or create an account to connect with an expert.
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:
Here are the instructions for TurboTax Online users:
Go to the black panel on the left side of your program and select Tax Tools.
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.
1097744
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.
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...
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
mhenry550
Level 1
in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
swick
Returning Member
PatricioE
Level 1
mc510
Level 2
DIY79
New Member