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Sales tax deduction
Is the Sales Tax Deduction Calculator Working? I paid a ton of sales tax due to a major remodel. The amount of sales tax I paid exceeds what I paid in State Taxes (approximately $20,000). No matter what amount I enter, the amount of state tax I owe does not change. I checked the box "use sales tax" and "change my deduction", but the amount I owe still doesn't change. Also, I have not paid and I do not owe AMT. Is anyone having the same problem?
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posted
June 4, 2019
2:43 PM
last updated
June 04, 2019
2:43 PM
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Sales tax deduction
high inome taxpayers will find that their Schedule A deduction will phase out and then disappear.
June 4, 2019
2:43 PM
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Sales tax deduction
high inome taxpayers will find that their Schedule A deduction will phase out and then disappear.
June 4, 2019
2:43 PM
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Sales tax deduction
Schedule A deductions phase out at $160,900 for married filing jointly. Our AGI is $161,675. We are $775 above the threshold. Thank you for your help.
June 4, 2019
2:43 PM
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Sales tax deduction
if you are close next year, consider taking a capital loss on some stock for $3,000. After 32 days you can buy the stock back. But this won't work if you are already reporting carryover loss on Line 13.
June 4, 2019
2:43 PM
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