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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? 

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1 Best answer

Accepted Solutions
HelenC12
Expert Alumni

SALT deductions

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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2 Replies
HelenC12
Expert Alumni

SALT deductions

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.   
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

SALT deductions

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