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hc-jensen
New Member

Tax Dedections limits

I have a tax deduction limitation of $10k.  That is met with my property tax.  I have also saved all sales tax receipts for itemizing.  The overview then stated that I exceeded the limitation.  So my question is do I need to continue to save the individual sales tax receipts when the property tax will exceed the limitation?

 

Thank you

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1 Reply
DianeC958
Expert Alumni

Tax Dedections limits

No, until the tax laws change you do not need to save you sales tax receipts since your property taxes are more than $10,000 and you are only allowed to deduct up to $10,000 on your taxes.

 

Link to Claiming Property Taxes on Your Tax Return

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