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EricJLisa
New Member

State and Local Taxes Greater than $10,000

Hello- under deductions and credits, the line "State and Local taxes greater than $10,000" for the year 2021 it shows "0"; 2022 shows (-$5421).  Why?  What does this mean?

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2 Replies
ThomasM125
Expert Alumni

State and Local Taxes Greater than $10,000

I'm not sure why that number would be negative. You can only deduct up to $10,000 of state and local taxes on your federal return, that is why you see reference to the amount of state taxes over $10,000. Since that amount is negative, it probably means your state and local tax itemized deduction is not limited by the $10,000 threshold.

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State and Local Taxes Greater than $10,000

On my Deductions & Credits Summary page.

 

it shows 

...................................................................................2021..............2022.....

(stuff on a bunch of lines)

State and local taxes greater than 10,000           ( $0  )             (-$930) 

______________

In my situation, the -$930 represents the $$ amount I paid to the state (or local tax people) that exceeded the SALT limit this year.  This value can limit whether a State refund will be taxed next year...but is needed to know only if you itemize deductions (Federal) this year.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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