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How do I get transparency to my schedule A deductions? I think mine is currently being miscalculated.

My schedule A is calculating the $10,000 minimum tax deduction. However, I think this is too large. but I can not see what entries are making up that $10,000. Is anyone familiar with the schedule A in this program and can help?
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2 Replies
BillM223
Employee Tax Expert

How do I get transparency to my schedule A deductions? I think mine is currently being miscalculated.

What is "the $10,000 minimum tax deduction"? Or are you referring to the $10,000 cap on SALT (State And Local Taxes)?

 

If you have the CD/download version of TurboTax, then you can go to FORMS mode and look at Schedule A.

 

If you are using the Online product, then you can't see this until you pay for the product.

 

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How do I get transparency to my schedule A deductions? I think mine is currently being miscalculated.

There is a max 10,000 limit (5,000 MFS) of property tax and state taxes "SALT".  SALT is State And Local Tax.  Which includes property tax, any state tax paid like for last year’s return and includes any state withholding from your W2s and any 1099s you have. And any taxes in W2 box 14 and 19 like SDI or VDI. You can only deduct up to 10,000 (5,000 MFS) for SALT State and Local Taxes.

 

 If it's giving you the Standard Deduction and  not showing you Schedule A you can check the actual amount of itemized deductions by using by going to

Tax Tools on left

Tools - Topic Search (top left box)

Type in  itemized deductions, choosing.  It should highlight that in the list, click on GO

 

Then Click on "Change my deduction". That will display the actual amount of itemized deductions vs. the standard deduction.    (Be sure to uncheck "Change my deduction" after checking it so you do not lock in the wrong deduction.

 

How to change between the Standard Deduction and Itemized Deductions

https://ttlc.intuit.com/community/accessing/help/how-do-i-change-from-the-standard-deduction-to-item...

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