Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
Mark77
Level 2

Property Tax Deduction

I am single and have annual property taxes of approximately $12,000.  When I enter the value within Turbotax, there is no change to my tax refund.  I would expect the refund value would increase in relation to the $10,000 maximum deduction.  Please explain.

1 Best answer

Accepted Solutions
VolvoGirl
Level 15

Property Tax Deduction

You are probably already getting the Standard Deduction for Single 12,400.  Or if you are itemizing there is a max 10,000 limit (5,000 MFS) of property tax and state taxes "SALT".

View solution in original post

3 Replies
VolvoGirl
Level 15

Property Tax Deduction

You are probably already getting the Standard Deduction for Single 12,400.  Or if you are itemizing there is a max 10,000 limit (5,000 MFS) of property tax and state taxes "SALT".

View solution in original post

Mark77
Level 2

Property Tax Deduction

I am itemizing, but no adjustment is occurring.

Mark77
Level 2

Property Tax Deduction

It's clear now.... local and state tax... it's unbelievable how much taxes we pay in the country.  Once sales taxes are accounted for... well over 50% of my income goes to the government... I guess that's whom we work for

Dynamic AdsDynamic Ads
Privacy Settings
v