New SALT deduction in 2025 tax code

Forum|Forum|11 months ago
July 4, 2025
2 replies
24 views

It's 40K for income under $500,000. Does anyone know if the 500K is the AGI or MAGI that includes tax free income?

ProSeries Professional

Best answer by TaxGuyBill

It is MAGI, but the "modified" only adds back Foreign Earned income (and from territories and Puerto Rico).

"For purposes of this paragraph, the term ‘modified adjusted gross income’ means adjusted gross income increased by any amount excluded from gross income under section 911, 931, or 933’’.

T

TaxGuyBillAnswer

Level 15

It is MAGI, but the "modified" only adds back Foreign Earned income (and from territories and Puerto Rico).

"For purposes of this paragraph, the term ‘modified adjusted gross income’ means adjusted gross income increased by any amount excluded from gross income under section 911, 931, or 933’’.

BobKamman

Level 15

@TaxGuyBill beat me to it by a minute. While I was checking that MAGI is the same definition for the "senior" deduction, tip income deduction, and overtime deduction.

Taxes-by-Rocky

Level 7

On a related topic, trying to extract data from my ProSeries client data files to see who might be affected by the OBBBA and how/why. I'm aware of the Client Analyzer Queries function from HomeBase but that function is rarely updated for current tax law issues, etc. [I do realize the Tax Planner tool gets updated from time to time which is helpful.]

To that end, does anyone know how to run queries on the ProSeries database files? Or, is there another function in ProSeries (other than the Client Analyzer Queries) that can do this? [For example, who hit the SALT cap, how much were they over, and did they have mortgage interest and/or charitable deductions?] While I'm not suggesting it, even a download to Excel would go a long way. Thanks in advance.

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RMarosy

Level 2

Has anyone else noticed an issue with proseries not computing the SALT adjustment on GA returns? I had a client contact me and said the refund they received doesn't match the return. Upon investigating I see GA is not doing the computation for the 10k cap adjustment, can proseries fix this ASAP? GA is only allowing 10k SALT cap for 2025 taxes and the system is not catching it. Please advise!

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IntuitKate

Moderator

Hi @RMarosy Welcome to the Community! Thank you for sharing your concern. We'd recommend contacting ProSeries Support so they can take a look and get it reported if need be.

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