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Get your taxes done using TurboTax
Yes, you have excess Real Estate Tax.
You need to determine how much excess real estate tax you have. The excess is determined proportionately. So if you had 10k in state taxes and 5k in real estate taxes, 1/3 of the taxes are real estate taxes. You have 5k over the 10,000 limit, divided by 1/3 is 1,667 which is the excess real estate taxes.
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‎February 22, 2020
9:45 AM