- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
If you can exceed the standard deduction then "yes" you should take the higher of the two to minimize your income taxes.
Only the State income tax -not the Federal taxes withheld are an itemized deduction.
Also the new tax law capped the State and Local Income taxes (SALT) at $10,000.
Really the best way to find out is to enter it in the program to see if you exceed the $24,000.
For some more detail on the tax law changes see this detailed explanation below.
https://ttlc.intuit.com/replies/6971774
‎June 6, 2019
12:11 AM