HopeS
Expert Alumni

After you file

Assuming you are taking Itemized Deductions, yes, you can take the deduction on Form 1040 Schedule A  for the amount paid during the year since you are a cash basis taxpayer.

 

The IRS limits your state and local tax deduction to $10,000. Therefore, you should review your deductions to see if the total deductions claimed on your return for sales tax, personal property tax, real estate, and state and local tax, are less than $10K.

 

Here is a helpful link on Itemizing Deductions:

 

How to Maximize Deductions

 

@CHUCKles4me 

 

[Edited 3/20/2023 | 05:40AM PST] @CHUCKles4me

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