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Level 4
April 11, 2024
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Carryovers to 2024 - Deductible State and Local Taxes

  • April 11, 2024
  • 1 reply
  • 13 views

Working on a 1040. The taxpayer will not itemize deductions because standard exceeds itemized. In the general information pages when I print the return, there are Carryovers to 2024. The carryovers include a number of items most of which I understand except the State and Local Taxes amount. Why would that amount be listed as a carryover? 

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    Best answer by PhoebeRoberts

    Because if they itemize next year, that's the amount of taxes paid with respect to 2023 that they get to deduct in 2024.

    1 reply

    PhoebeRoberts
    Intuit Community Champion
    April 11, 2024

    Because if they itemize next year, that's the amount of taxes paid with respect to 2023 that they get to deduct in 2024.

    freshy70Author
    Level 4
    April 11, 2024

    Thank you for the fast reply. You are very smart.