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I am itemizing my deductions this year and have added in more sales tax. As I add in more sales tax, my federal tax due does not recalculate. Help!
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I am itemizing my deductions this year and have added in more sales tax. As I add in more sales tax, my federal tax due does not recalculate. Help!
In late December of 2017, Congress passed the largest tax reform bill in over 30 years. The state, local, property, and sales tax (SALT) deduction is capped at $10,000. Once you reach $10,000 in deductions, adding more sales tax will not affect your income tax return.
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