It does not automatically do this. Currently I have entered in the estimated 2023 UBT tax payments I already made, but this does not automatically transfer to the federal schedule C expenses for 2023. I manually enter this in as a “taxes and licenses” expense? If I do this, how do I adjust the local portion?
Looking for guidance on using turbo tax software to properly deduct NYC’s UBT and MCTMT taxes I paid in 2023 from my 2023 tax return. Thank you so much!