Question

Field not populating in Business version of software

Forum|Forum|2 years ago
February 15, 2024
2 replies
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I am using the 2023 business version and am filing for a trust. I have entered the information for State and Local Income Taxes field in the deduction section. However, on the form 8960 Line Part II field 9b (State, Local and foreign income tax) the amount does not populate as it should. I had an accountant do the taxes the last 2 years and he entered a value in that field. Please advise.

TurboTax Business Windows

A

Anonymous_

Employee

You may have to use Forms Mode.

That line is for state tax attributable to net investment income.

DaveF1006

You cannot not record this is the Forms mode in the return. It is a calculated entry. Instead you would report this in the step by step portion of the program by.

Go to federal taxes>deductions
expense taxes & fees>taxes
In the very first screen is where you would report state and local taxes. I have included a screenshot to show how this is recorded.

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A

Anonymous_

Employee

You can enter the figure on that line in Forms Mode if you do an override but note that overrides will void the TurboTax accuracy guarantee and will likely force you to print and mail the return.

Also note that Line 9b is subject to SALT limitations.