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Level 1
posted Mar 13, 2021 9:49:53 AM

Confused by this question "How much of your 2019 estimated state taxes did you pay in 2020?"

Hi! I'm confused by this question "How much of your 2019 estimated state taxes did you pay in 2020?" — is it asking for information about my fourth quarter estimated tax payment for my 2019 taxes? Meaning the payment I would have made in January 2020 that was my fourth estimated payment for year 2019 taxes?  Thanks!

1 2 1959
2 Replies
Level 2
Mar 13, 2021 10:00:11 AM

You are correct the reason for Turbo Tax checking on when you paid your estimated taxes (most likely the 4th payment) is that if you are able to deducted your state taxes in your return only those actually included in the calender year can be deducted.  Of course now that there is the $10,000 ceiling on the state on local taxes most people no longer can use this and now take the standard deduction.

Level 1
Mar 13, 2021 12:25:28 PM

Thanks, Pete!