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SALT deductions
On the summary page of the Deductions and Credits of the Federal taxes, on the line for "State and local taxes greater than $10,000", there is a negative dollar figure in parentheses. What does that mean?
On the summary page, the negative number shows by what dollar amount you exceeded the $10,000 SALT limit.
- The summary should show your total property taxes which includes everything and then a negative number that reduces it down to the $10,000 limit.
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