kwinch8029
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- Posted No need to respond to my last question I have researched... on Get your taxes done using TurboTax. June 6, 2019 1:05 AM
- Posted How is the state and local income taxes greater than $10,000 calculated? on Get your taxes done using TurboTax. June 6, 2019 1:05 AM
June 6, 2019
1:05 AM
No need to respond to my last question I have researched the issue and have the answer. It is combining State and Local income taxes paid, Real Estate taxes paid and Personal taxes paid and deducting the $10,000 maximum deduction from that total resulting in the difference reducing my overall deductions.
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June 6, 2019
1:05 AM
I paid $17,201 in state and local taxes, I know there is a $10,000 cap, but the state and local taxes greater than $10,000 is showing a negative $12,872 on my return.
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