1660588
You'll need to sign in or create an account to connect with an expert.
It is a combination of real estate taxes and the amount you paid in state and local income tax and is limited by the new tax law to $10,000. (you have to choose to deduct either sales taxes or state income tax)
State and Local Taxes
For tax year 2019 (the taxes you file in 2020), you may be able to deduct sales tax, state and local income tax, and/or property taxes capped at $10,000 ($5,000 for married filing separate) if you itemize deductions.
Total taxes paid includes any tax withheld and shown on any tax reporting document you entered, such as your W-2. It also includes any taxes you personally paid to the IRS such as quarterly tax payments if you're self-employed.
Depending on what screen you're on, and if your state taxes personal income or not, that total could be the total of all federal taxes paid, the total of all state taxes paid, or the grand total of both.
It is a combination of real estate taxes and the amount you paid in state and local income tax and is limited by the new tax law to $10,000. (you have to choose to deduct either sales taxes or state income tax)
State and Local Taxes
For tax year 2019 (the taxes you file in 2020), you may be able to deduct sales tax, state and local income tax, and/or property taxes capped at $10,000 ($5,000 for married filing separate) if you itemize deductions.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
ernestomoreno474
New Member
rroop1
New Member
catcher_1974
New Member
trjpkhouse
Level 2
jocelyn-limmer
New Member