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washert
New Member

Property taxes not impacting taxes due. Input $1 or $3K there is no impact on my taxes. This is not matching the IRS SALT calculator, it shows a $7K deduction. Help!

 
8 Replies
Lisa995
Level 12

Property taxes not impacting taxes due. Input $1 or $3K there is no impact on my taxes. This is not matching the IRS SALT calculator, it shows a $7K deduction. Help!

Is the standard deduction still higher than the total of all itemized deductions?  If so, you wont see any change for property taxes input.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
Zbucklyo
Level 9

Property taxes not impacting taxes due. Input $1 or $3K there is no impact on my taxes. This is not matching the IRS SALT calculator, it shows a $7K deduction. Help!

It is possible that your itemized deductions are less than the standard deduction for your filing status.  To change your tax liability, all your itemized deductions including property taxes must be more than $24,000 if married filing jointly, $18,000 if Head of Household, or $12,000 for single or married filing separately.  There are additions to this if you are over 65 or blind.

washert
New Member

Property taxes not impacting taxes due. Input $1 or $3K there is no impact on my taxes. This is not matching the IRS SALT calculator, it shows a $7K deduction. Help!

Itemized deductions without the property tax exceed the standard deduction
Lisa995
Level 12

Property taxes not impacting taxes due. Input $1 or $3K there is no impact on my taxes. This is not matching the IRS SALT calculator, it shows a $7K deduction. Help!

Then maybe you total state and local income taxes have already maxed out the $10,000 limit and the property taxes aren't being used.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
washert
New Member

Property taxes not impacting taxes due. Input $1 or $3K there is no impact on my taxes. This is not matching the IRS SALT calculator, it shows a $7K deduction. Help!

I thought about that, but when I use the IRS SALT calculator it shows less that $10K for state, local , and property tax.
Lisa995
Level 12

Property taxes not impacting taxes due. Input $1 or $3K there is no impact on my taxes. This is not matching the IRS SALT calculator, it shows a $7K deduction. Help!

Youd really need to print out the forms and follow the money, nobody can see your return, so all we can do is guess.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
Lisa995
Level 12

Property taxes not impacting taxes due. Input $1 or $3K there is no impact on my taxes. This is not matching the IRS SALT calculator, it shows a $7K deduction. Help!

Maybe your taxable income is already zero and you owe other types of taxes, like the healthcare penalty or penalty on early withdrawal of retirement, those wont be offset by itemized deductions.  If your taxable income is already zero, you wont be able to increase a refund with more deductions.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
washert
New Member

Property taxes not impacting taxes due. Input $1 or $3K there is no impact on my taxes. This is not matching the IRS SALT calculator, it shows a $7K deduction. Help!

Thanks, but that is not it either, saw something online about TT having a mistake in the property tax calculation.  I will take you advice and study the forms.  
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