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Deductions & credits
For your federal taxes, the IRS has not allowed any special treatment of property taxes. You are still limited to the 10k SALT limit.
CA has tried to do a work around with AB150 which will mostly apply to businesses. The workaround, allows pass through entities to pay taxes at the business level instead of at the personal level so the business can deduct the full amount instead of being limited to what the individual is limited to on their federal return.
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‎February 27, 2023
9:47 AM