I am the trustee of an irrevocable trust that owns real property for which property taxes were paid by the trust. Where do I put in the property taxes for a deduction?
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" Where do I put in the property taxes for a deduction?"
Federal Taxes tab>>Deductions>>Taxes>>Start button (see screenshot)
" Where do I put in the property taxes for a deduction?"
Federal Taxes tab>>Deductions>>Taxes>>Start button (see screenshot)
I see and follow that. In the 2020 TurboxTax Business (version [phone number removed] as of Feb 25, 2021) I enter a number for the "Real and personal property taxes." However, it first shows up on Form 8960 line 9b "State, local, and foreign income tax (see instructions)." Property tax is not an income tax. The IRS instructions at https://www.irs.gov/instructions/i8960#idm[phone number removed]168 mentions nothing about property tax, just income tax. TurboTax and the IRS seem to be in conflict with each other, and only one can be right. Program bug?
hmmm, it appears that I might have misread the ""State, local, and foreign income tax" as it could mean, with expanded interpretation in parenthesis, "(any kind of) State (tax), (any kind of) local (tax), and foreign income tax." That way, both the IRS and Turbo Tax would be in alignment.
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