3453225
You'll need to sign in or create an account to connect with an expert.
You can only claim what you actually paid in 2024 on your 2024 tax return, so $7,500. Keep in mind, there is a $10,000 cap on the amount of state and local tax you can deduct on Schedule A as an itemized deduction. So if you paid $2,500 or more in state income tax, you wouldn't be able to deduct the other $7,500 in 2024 even if you had paid it in 2024.
Deduct only what you paid in 2024.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jherna5319
New Member
omnipheasant
New Member
hmahaffey
New Member
YT76
Level 1
Jeff-W
New Member