Applying the One Big Beautiful Bill changes to Lacerte Tax Planner

Table of contents:

In Lacerte Tax Planner 2025

State and Local Tax Deductions

The overall limit on the deduction for state and local income, sales and property taxes has increased to $40,000 ($20,000 if MFS) and is reduced by your modified adjusted gross income if more then $500,000 ($250,000 if MFS) but will not reduce below $10,000 ($5,000 if MFS). Review the Schedule A line 5e to see the results.

1. Go to the Deductions/Exemptions tab.
2. Select Deductions then Itemized Deduction Input.
3. Select State and Local Sales Tax.
4. Enter the applicable sales tax information.

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Entering No Tax on Tips

1. Go to the Deductions/Exemptions tab.
2. Select Deductions.
3. Under Additional Deductions enter the applicable amount on the No Tax on Tips line.

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Entering No Tax on Overtime

1. Go to the Deductions/Exemptions tab.
2. Select Deductions.
3. Under Additional Deductions enter the applicable amount on the No Tax on Overtime line.

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Entering No Tax on Car Loan Interest

1. Go to the Deductions/Exemptions tab.
2. Select Deductions.
3. Under Additional Deductions enter the applicable amount on the No Tax on Car Loan Interest line.

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Entering the Enhanced Deduction for Seniors

1. Go to the Deductions/Exemptions tab.
2. Select Deductions.
3. Under Additional Deductions enter the applicable amount on the Enhanced Deduction for Seniors line.

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In Lacerte Tax Planner 2024

State and Local Tax Deductions

The overall limit on the deduction for state and local income, sales and property taxes has increased to $40,000 ($20,000 if MFS) and is reduced by your modified adjusted gross income if more then $500,000 ($250,000 if MFS) but will not reduce below $10,000 ($5,000 if MFS). Review the Schedule A line 5e to see the results.

1. Go to the Deductions/Exemptions tab.
2. Select Deductions then Itemized Deduction Input.
3. Select State and Local Sales Tax.
4. Enter the applicable sales tax information.

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Entering No Tax on Car Loan Interest, No Tax on Tips, No Tax on Overtime and No Tax on Car Loan Interest

1. Go to the Deductions/Exemptions tab.
2. Select Deductions.
3. Under Deductions enter the applicable amount on the Other Deductions line.

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Entering the Enhanced Deduction for Seniors

1. Go to the Deductions/Exemptions tab.
2. Select Deductions.
3. Under Deductions enter the applicable amount on the Senior Deductions line.

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