SALT capped at 10k limit

3 replies
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It really has big impact on people living in high income area.

State and local income tax + house property tax: $10k is way too low.

Is it permanent law or will it expire at some point? I heard that it will expire in 2025, correct?

Any comment about SALT or any prediction on SALT?

I wish to go back without $10k

Not A Product Question

Bsch4477

Level 15

2025 is the last year SALT will apply unless extended.

DoninGA

Level 15

The SALT limits will expire after 12/31/2025 without Congressional intervention. However, Congress may make the changes in the tax code that were only effective for tax years 2018 thru 2025 permanent.

rjs

Level 15

The SALT cap is going to be a very big issue in the next Congress. Right now, no one knows what they will do. It will be included in the negotiations over a major new tax bill. Any Congressional action is likely to be in late 2025. Keep an eye on the news.