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Using the federal 2025 estimated tax w/s I enter a large charitable contribution of capital stock to a Qualified C O. There is plenty of AGI, so no limitation issue there. Yet the deduction does not show up in the California 2025 estimated tax worksheet and calculation of state 2025 estimated tax.
Can someone please explain?
Thank you.
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I believe you just need to make an entry in the California Adjustments
| CA Estimated Tax Worksheet | Screen 7; Code 153 |
Enter your calculation of the anticipated itemized deduction the taxpayer expects to receive in 2025. If you leave this field blank, the program defaults to using the current year's amount.
Answers are easy. Questions are hard!
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Thank you, George. I think it's odd that the sophisticated Lacerte system can't handle this routinely.
I appreciate your response.
Thank you,
Lennie
