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InnovativeTax
Level 3
02-02-2022
10:10 PM
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Has anyone else noticed that the standard deduction amount for charitable deductions on the 1040 is now "after" the computation for AGI. Furthermore, it is not a decoupling item (add back) for NYS IT-201. I am correct in my observation? Thanks all!
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Skylane
Level 11
02-03-2022
12:27 AM
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Not sure I can wrap my head around this tonight or what I'm missing....
I used a Single NYC resident w/ 75k income 5500 SALT, 8K RE tax, and 2K 1098 and 750 charity
(Total Sch A line 18 would be 11750 so Standard ded 12550 applies)
Page 1 shows 75K AGI Standard deduction 12550 plus 300 Charity = 12850
IT-201 NY AGI 75K less 9750 Itemized (including the $750 Charity)
NY itemized deductions 13500 Taxes, 1000 1098, 750 Charity = 15250 - 5500 SALT subtraction = 9750
I'm not seeing an error.
If at first you don’t succeed…..find a workaround
InnovativeTax
Level 3
02-03-2022
09:58 AM
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Skylane...you lost me. Can we speak further.
