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Level 1
July 16, 2021
Solved

MD SALT tax payment for members

  • July 16, 2021
  • 1 reply
  • 10 views

We paid an extension payment (it is accrued on the books) but there is still a balance due. I can't figure out how to mark the return to deduct the state tax on the federal return. I know there was a way in ProSeries on corporate returns back when I did those, but this new SALT tax payment for a partnership is not working as I expect it to.

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Best answer by sjrcpa

I believe you can only deduct the amount paid in 2020, if any, on the 2020 tax return.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
July 16, 2021

I believe you can only deduct the amount paid in 2020, if any, on the 2020 tax return.

The more I know the more I don’t know.