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On my Deductions and Credits summary, in the Deductions section there is a line for "State and local taxes greater than $10000, what is this?

There is a negative number that reduces my overall deductions.  It was zero last year, and I don't ever recall seeing this before

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5 Replies

On my Deductions and Credits summary, in the Deductions section there is a line for "State and local taxes greater than $10000, what is this?

What is considered the State and Local Taxes?  I didn't pay more than $10,000 in property taxes

On my Deductions and Credits summary, in the Deductions section there is a line for "State and local taxes greater than $10000, what is this?

State and local income/sales/property taxes are limited to $10k combined.
pauleymo
New Member

On my Deductions and Credits summary, in the Deductions section there is a line for "State and local taxes greater than $10000, what is this?

As part of the 2018 Tax reform, you are limited to $10,000 deductions for State and local taxes this year and  going forward. This was not the law in prior years. This is why you did not see it last year.

On my Deductions and Credits summary, in the Deductions section there is a line for "State and local taxes greater than $10000, what is this?

What is considered the State and Local Taxes?  I didn't pay more than $10,000 in property taxes
vos1937
New Member

On my Deductions and Credits summary, in the Deductions section there is a line for "State and local taxes greater than $10000, what is this?

SALT applies to payroll , sales and property taxes. A lot of good info if you Google.
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