Deductions & credits

Also...

 

1).The added property taxes won't do anything if your state income taxes paid/withheld during 2021 have already exceeded $10,000.  That deduction is capped.

 

2) if you are already getting all your Fed withholding back as a refund (or quarterly estimates paid) from your Federal taxes ...then you don't get any more.....and a gazillion $$ of added itemized deductions won't do anything.  (also for the Self-employed....it doesn't reduce SS and Medicare taxes due on your SE gains)

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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