JamesG1
Expert Alumni

Deductions & credits

Your sales and local taxes (SALT) deduction is capped at $10,000 and you are utilizing the annualized income method for IRS form 2210

 

If your records show that you exceeded the $10,000 amount in the month of May of 2024, then your sales and local taxes would only be reflected in the time periods ending in March 31, 2024 and May 31, 2024.

 

No sales and local taxes would be reported for the subsequent periods reported on the form.

 

@JST4 

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