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Level 3
April 14, 2023
Question

Form 1040 Schedule A, tax deduction is greater than 10000

  • April 14, 2023
  • 3 replies
  • 10 views

for some reason proseries is allowing a tax deduction on schedule A greater than 10000.  Has anyone else encountered this issue?  Perhaps it is allowed?  thanks!

 

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3 replies

Camp1040
Level 10
April 14, 2023

Make sure you scrool down to line 7 of state and local taxes. The SALT limit is still a thing!

colleen4Author
Level 3
April 14, 2023

Yes, The SALT limit is a thing!  Wondering why the Proseries Schedule A tax deduction is $12,450 - should only be 10,000.  I've added in  -2450 to reduce the tax deduction to 10,000.

Camp1040
Level 10
April 14, 2023

You should not have to do that. Make sure your program is updated. I have had a few returns that exceed SALT and proseries has capped the deduction at 10K

BobKamman
Level 15
April 14, 2023

Are you deducting taxes on investment property?

Level 15
April 14, 2023

Are you entering "other taxes" on line 6?  Those would not be subject to the $10,000 limit.