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I have entered $14,000 or $21,000 in sales tax paid and I see no change in the amount of tax owed. Is there a limit to the deduction? I'm in Washington State.

 
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Leonard
Intuit Alumni

I have entered $14,000 or $21,000 in sales tax paid and I see no change in the amount of tax owed. Is there a limit to the deduction? I'm in Washington State.

Yes the 2017 Tax Cuts and Jobs Act limits the deduction.  Starting in 2018 through 2025  taxpayers who itemize will be able to deduct their state individual income, sales and property taxes up to a limit of $10,000. 

 

[Edited 03/09/2020 |  3:13 PM PDT]

 

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4 Replies
Leonard
Intuit Alumni

I have entered $14,000 or $21,000 in sales tax paid and I see no change in the amount of tax owed. Is there a limit to the deduction? I'm in Washington State.

Yes the 2017 Tax Cuts and Jobs Act limits the deduction.  Starting in 2018 through 2025  taxpayers who itemize will be able to deduct their state individual income, sales and property taxes up to a limit of $10,000. 

 

[Edited 03/09/2020 |  3:13 PM PDT]

 

I have entered $14,000 or $21,000 in sales tax paid and I see no change in the amount of tax owed. Is there a limit to the deduction? I'm in Washington State.

Thankyou TurboTaxLeonard.  So the combined total deduction in 2018 is $10,000? Or is it $10,000 for each, State, Property and Sales for a total of $30,000?
Leonard
Intuit Alumni

I have entered $14,000 or $21,000 in sales tax paid and I see no change in the amount of tax owed. Is there a limit to the deduction? I'm in Washington State.

Combined total not to exceed $10,000

I have entered $14,000 or $21,000 in sales tax paid and I see no change in the amount of tax owed. Is there a limit to the deduction? I'm in Washington State.

wow, thanks.  That's a big change and a large increase in taxes owed because of it.
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