Some of my clients have moved to CA.
For CA state returns is there a place to write off rent ($60,000) and sec125 pre taxed medical ins $9,829?
Also, TD Ameritrade fees $3,593.73? (can this be taken on the federal or not anymore)
Thank you
personal rent is not a deduction
pretax benefits are not a deduction.
those fees are entered as part of Sch A misc itemized deductions, same as always...have to exceed the 2% haircut before they count and can only be used on the CA return, not federal.
Thank you. Any CA deductions that I should be asking them about?
CA still allows moving expenses if youre moving into CA due to a job change, might be worth looking into.
Read the California instructions...you can download them from their site.
CA does have a Renter's Credit. https://www.ftb.ca.gov/file/personal/credits/nonrefundable-renters-credit.html
PS prompts for that automatically if you qualify, so its hard to miss.
CA renter’s credit only if:
Your California income was:
I would think someone paying 60K for rent has an income exceeding those restrictions.
Cute...we both know that Pub 17 is from the IRS and does not answer State issues.
This site provides an option to block my posts if you don't want to read them.
But how in the world would I find out anything about pub 17 if I blocked your posts? Although that is an interesting thought I'm not sure how a person can do that anyway.
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