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naomiwelch
New Member

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?

1 Best answer

Accepted Solutions
fanfare
Level 15

Sales tax deduction

high inome taxpayers will find that their Schedule A deduction will phase out and then disappear.

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3 Replies
fanfare
Level 15

Sales tax deduction

high inome taxpayers will find that their Schedule A deduction will phase out and then disappear.

naomiwelch
New Member

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.
fanfare
Level 15

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.
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