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Deductions & credits
We paid over $15K in property taxes. Everything says married filing jointly the cap is $10K. TurboTax reduced the amount to $6318. Why? And State/Local taxes paid were $8757 but we're only allowed $3682. The cap says the max is $10K. Is the cap of $10K the combination of state/local taxes AND property tax? Our income was almost $30K less in this tax filing but we're paying 50% higher taxes!
‎July 15, 2020
6:34 AM