Has the tax law changed on NM State tax payments to be deductible?
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State taxes are still deductible, however, due to Tax Reform, your itemized deduction for taxes is limited to a total of $10,000. You did not provide the details of your return, but this may explain why you are seeing an amount lesser than what you entered.
State taxes are still deductible, however, due to Tax Reform, your itemized deduction for taxes is limited to a total of $10,000. You did not provide the details of your return, but this may explain why you are seeing an amount lesser than what you entered.
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