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Do you mean where to report taxable prior year state refund ? State and Local Income Tax Refund Worksheet to get there select Forms>Select Forms Type REF in the Find forms box
Hi and thank you. The prior year tax return had a page which listed Federal carryover amounts to 2020. I know where to put the capital loss carryovers. But there was line that said Deductible State and Local Taxes to carry over to 2020. I looked at all the various carryover and tax payment worksheets in ProSeries. The only thing that makes sense to me is to add it Sch. A taxes paid as prior year tax deduction carry forward.
Thanks.
The prior year tax return had a page which listed Federal carryover amounts to 2020. Some were capital loss carryovers. I know where to put those. But there was a line that said Deductible State and Local Taxes to carry over to 2020. I looked at all the various carryover and tax payment worksheets in ProSeries. Could not find a place there. The only thing that makes sense to me is to add it to Sch. A as State/local taxes paid, prior year tax deduction carry forward.
Does the amount from the page listing carryovers match last years state tax refund ?
No, this is not a refund (income). It's a deduction. Taxes paid or incurred in a prior year.
I think I have figured it out. I think the previous tax preparer gave them Sch. A credit in 2019 only for state tax paid IN 2019, not all the state taxes paid FOR 2019. So I think she is saying that this additional amount should be deducted on Sch. A in 2020 since they were paid in 2020 even though they were for 2019 tax.
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