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Deductions & credits
The property tax would be allowed with other property taxes however as you pointed out the threshold has already been met so there is no deduction for those taxes.
As pointed out by @Anonymous_, the Tax Cuts and Jobs Act (TCJA) has eliminated miscellaneous deductions that were limited to only the excess over 2% of the adjusted gross income (AGI). (2018-2025 and then the law is set to revert back unless changed)
The only remaining miscellaneous deductions allowed are:
- Qualified disaster losses
- Gambling losses (gambling losses include, but aren't limited to, the cost of non-winning bingo, lottery, and raffle tickets), but only to the extent of gambling winnings reported on Schedule 1 (Form 1040), line 8b.
- Casualty and theft losses of income-producing property from Form 4684, lines 32 and 38b, or Form 4797, line 18a.
- Federal estate tax on income in respect of a decedent.
- A deduction for amortizable bond premium (for example, a deduction allowed for a bond premium carryforward or a deduction for amortizable bond premium on bonds acquired before October 23, 1986).
- An ordinary loss attributable to a contingent payment debt instrument or an inflation-indexed debt instrument (for example, a Treasury Inflation-Protected Security).
- Deduction for repayment of amounts under a claim of right if over $3,000. See Pub. 525 for details.
- Certain unrecovered investment in a pension.
- Impairment-related work expenses of a disabled person.
If they do not fit into one of these categories they are not deductible.
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‎January 25, 2023
4:48 PM
3,267 Views