@markkaye_96 wrote:
I saw that section of the code. IRS has its own internal mis-interpretation issues - the code says one thing, the IRS FAQ interprets it otherwise. The law is too broad in its language and creates confusion vis-a-vis other parts of the code.
Seems pretty specific in the tax code -
(a)General rule
Except as otherwise provided in this section, the following taxes shall be allowed as a deduction for the taxable year within which paid or accrued:
(1) State and local, and foreign, real property taxes.
(3)State and local, and foreign, income, war profits, and excess profits taxes
6(B) the aggregate amount of taxes taken into account under paragraphs (1), (2), and (3) of subsection (a) and paragraph (5) of this subsection for any taxable year shall not exceed $10,000 ($5,000 in the case of a married individual filing a separate return).
