Schedule a line 5a general sales tax

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August undefined, 2024

WebMar 2, 2024 · I do enter the local sales tax of 0.5% (entered as 0.005) Per IRS table instructions and calculator, however, PTO overcalculates? sales taxes totaling $1,043 and without local sales entry of $1,008. Per IRS 2024 Sales Tax Deduction Calculator result should be $539. This is for CA family of 1, total income of $3,060. WebMar 15, 2024 · Personal Proceeds Car. IntroductionThis Technical Information Approval stated the changes inches the tax treatment of certain estates and trusts how a fazit of §§ 14 through 17, inclusive, and § 63 of c. 262 of the Acts of 2004. Prior to of enactment of c. 262, and in contrast to federal law, the general rule was that if the income of an real or …

Solved: Why is Turbotax using my "Estimated" Taxes paid for my ... - Intuit

WebEnter - line 2- Date residency ended if before 12/31. Enter - line 2- ZIP code - override. Enter - line 2- Local general sales tax rate - override. (Enter the percent as .123 not 12.3%.) Enter - line 2- General sales taxes paid on specified items. Enter - line 2- State and local general sales taxes - override. WebDec 28, 2024 · If you take the standard deduction ($12,950), you’ll save 22% x $12,950, which equals $2,849 in tax savings. Now let’s say you figure out that if you itemized, your total … songs by the statler brothers

Federal Form 1040 Schedule A Instructions - eSmart Tax®

WebSubtract line 3 from line 1. If line 3 is more than line 1, enter -0- . . . . . . . . . 4 . Taxes You Paid . 5. State and local taxes. a . State and local income taxes or general sales taxes. You … WebTotal = $467. If none of the localities in which you lived during 2014 imposed a local general sales tax, enter $467 on line 1 of your worksheet. Otherwise, complete a separate worksheet for State A and State B. Enter $333 on line 1 of the State A worksheet and $134 on line 1 of the State B worksheet. Line 2. WebSubtract line 3 from line 1. If line 3 is more than line 1, enter -0- . . . . . . . . . . 4 . Taxes You Paid . 5. State and local taxes. a . State and local income taxes or general sales taxes. … small fishing boat rentals

Enter or Edit General Sales Tax Deduction - TaxAct

Sales Tax Deduction Calculator - General Internal Revenue Service

WebAn aircraft or boat, but include the tax only up to the amount of tax for the general sales tax rate. A home (including a mobile home or prefabricated home ) or a substantial addition … Web7731223 Schedule CA (540) 2024 Side 1 A Federal Amounts (taxable amounts from your federal tax return) B. ... State and local income tax or general sales taxes. . 5a b State and local real estate taxes ... Enter the amount from line 5a, column B in line 5e, column B. Enter the difference from line 5d and line 5e, column A in line 5e, column C ... small fishing boat manufacturers ukWebTaxAct® will use the higher of state and local income taxes, or state and local general sales taxes to report on Line 5a of Schedule A. Remember, state wages and withholding will be … songs by the sylvers

"WebJul 13, 2024 · This article will help with entering local sales tax rates for Schedule A, Line 5 (Form 1040). Lacerte uses the tables on pages A-11 through A-13 published in the … " - Schedule a line 5a general sales tax

Schedule a line 5a general sales tax

WebJan 22, 2024 · Thanks for the rapid reply, Ms. VolvoGirl! I wanted to clarify that the question is how to determine "Total state and local general sales taxes you could have deducted on Schedule A, line 5a". For context, I already have Schedule A completed from 2024. Now, I'm trying to complete 1040 for 2024. WebJun 1, 2024 · Line 5a – State and Local Taxes California does not allow a deduction for state and local income tax (including limited partnership tax and income or franchise tax paid …

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WebJan 30, 2024 · Report your total sales tax deduction on line 5a of Schedule A. Be sure to check the box next to line 5a to let the IRS know you’re claiming sales tax instead of … WebSubtract line 3 from line 1. If line 3 is more than line 1, enter -0- . . . . . . . . . . 4 . Taxes You Paid . 5. State and local taxes. a . State and local income taxes or general sales taxes. You may include either income taxes or general sales taxes on line 5a, but not both. If you elect to include general sales taxes instead of income taxes,

WebNo. Skip lines 3 through 5, enter -0- on line 6 and go to line 7. Yes. Enter the local general sales tax rate, but omit the percentage sign. For example, if the local general sales tax rate was 2.5%, enter 2.5. If the local general sales tax rate changed or taxpayer lived in more than one locality in the same state during 2024, see the ... WebNo. Skip lines 3 through 5, enter -0- on line 6 and go to line 7. Yes. Enter the local general sales tax rate, but omit the percentage sign. For example, if the local general sales tax rate was 2.5%, enter 2.5. If the local general sales tax rate changed or taxpayer lived in more than one locality in the same state during 2024, see the ...

WebEnter your local general sales tax rate, but omit the percentage sign. For example, if your local general sales tax rate was 2.5%, enter 2.5. If your local general sales tax rate changed or you lived in more than one locality in the same state during 2024, see the instructions … Where's My Refund - 2024 Instructions for Schedule A (2024) Internal Revenue … WebGeneral Sales Taxes You Paid. For Virginia purposes, if you are claiming a deduction for general sales taxes instead of income taxes, your deduction is subject to the $10,000 …

WebApr 3, 2024 · Just ran a test tax return with state income taxes withheld on a W-2 of $3,000. State estimated taxes paid in 2024 of $5,000. Amount paid with a 2024 state income tax …

WebAll Schedule A (Form 1040) Revisions. Use the Sales Tax Deduction Calculator. Tax Exempt Organization Search. About Publication 502, Medical and Dental Expenses. About Publication 504, Divorced or Separated Individuals. About Publication 525, Taxable and Nontaxable Income. Other Current Products songs by the sons of the pioneersWebMar 8, 2024 · TurboTax will maximize your deductions and use the better of state and local income taxes paid or sales taxes. Line 5a should include state taxes paid in 2024 on a 2024 balance due. Property taxes, as you observed, are on line 5b. Here's how to choose the sales tax deduction: Type sales tax in Search in the top right; Select Jump to sales tax small fishing boat price in indiaWebJan 13, 2024 · Get started. Federal: $29.95 to $59.95 Free version available for simple tax returns only. State: $0 to $39.95 per state. On-demand tax help at Premium and Self-Employed tiers. Promotion ... small fishing boat rentals floridaWebMar 27, 2024 · The Sales Tax Deduction Calculator helps you figure the amount of state and local general sales tax you can claim when you itemize deductions on Schedule A (Forms … small fishing boat photosWebGeneral Sales Taxes You Paid. For Virginia purposes, if you are claiming a deduction for general sales taxes instead of income taxes, your deduction is subject to the $10,000 federal limitation. As a result, you must fill in the oval and enter on Line 5a the smaller of the state and local sales taxes paid by you during the taxable small fishing boats for sale in durbanWebSales Tax - State Tables and Rates. TaxAct ® will calculate the general sales tax for your state for Schedule A (Form 1040) Itemized Deductions, Line 5. In the Itemized Deductions section of the Federal Q&A, you can enter the name of the state and the number of days you lived in that state. TaxAct will then calculate the state general sales ... small fishing boat modelWeb4. State and local taxes. Check only one box. a ☐ Other state and local income taxes. Do not include any general sales tax or Iowa Income Tax. Include School District Surtax and EMS Surtax from prior years paid in 2024, OR . b ☐ General sales tax from federal form 1040, Schedule A, line 5a. ..... 4. _____ 5. small.fishing boats for sale