Pro Series is basing the state tax deduction on Form 8960 on the amount on Schedule A line 5. To me this is wrong. The amount of state income tax deducted on Form 8960 should be based on the total tax on the state return or returns. Their way, if you sold the property and had a large gain and the tax was paid in the next year and then you had no more investment properrty the state taxes paid in say 2014 for 2013 would never be considered. Before I call Pro Series I want to see if anyone disagrees.
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State Income Tax Deduction on form 8960
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