You can still deduct as an itemized deduction on Schedule A property taxes paid in 2018 on your 2018 tax return. The total State and Local taxes paid or sales taxes paid plus property taxes paid is limited to $10,000 for tax year 2018 if filing a joint tax return or Single ($5,000 if filing separately).
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However, since the standard deduction has been increased, very few taxpayers will need to itemized their deductions in 2018 since the itemized deductions on Schedule A still have to be greater than the standard deduction for your filling status to have any tax benefit.
Standard deductions for 2018
- Single - $12,000 add $1,600 if age 65 or older
- Married Filing Separately - $12,000 add $1,300 if age 65 or older
- Married Filing Jointly - $24,000 add $1,300 for each spouse age 65 or older
- Head of Household - $18,000 add $1,600 if age 65 or older
