topic I’m selling a second home that is not used as a rental in the tax year 2018. Can I deduct the Colorado state taxes paid on this sale on my federal return for 2018? in Investors & landlords

I’m selling a second home that is not used as a rental in the tax year 2018. Can I deduct the Colorado state taxes paid on this sale on my federal return for 2018?

blussier — Thu, 06 Jun 2019 15:50:31 GMT

I am a Colorado resident

URL added for 2017 Tax Reform Legislation

HelenaC — Thu, 06 Jun 2019 15:50:33 GMT

URL added for 2017 Tax Reform Legislation

It depends if Tax Reform gets passed by Congress.The bill...

HelenaC — Thu, 06 Jun 2019 15:50:34 GMT

It depends if Tax Reform gets passed by Congress.The bill limits the amount of state and local property, income, and sales taxes that can be deducted to $10,000. In the past, these taxes have generally been fully tax deductible.

For additional information about the Tax Reform bill, click on 2017 Tax Reform Legislation: What You Should Know - TurboTax - Intuit https://turbotax.intuit.com/tax-tips/irs-tax-return/2017-tax-reform-legislation-what-you-should-know...