Last year when I heard the news, I mistakenly thought the capped amount is for property tax only, now it turns out the capped amount including to income tax too?
I just realized that this change will affect me, since the total of my state income tax and property tax is more than $10,000 ?
Thanks.
You'll need to sign in or create an account to connect with an expert.
It's almost like they want to cripple the amount of services a state provides to residents. You are correct SALT ,state and local taxes, includes state taxes paid as well as real estate.
You can review the tax reform topics in the link below, including state, local, property, and sales tax (SALT) deduction.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
SelenaP
Returning Member
Tax_Lego
Returning Member
BW241
New Member
dbrodt244
New Member
PDaddy
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.