I paid my 2017 property taxes in 2018. Will these taxes still be deductible when I file in 2019?
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The standard deduction will increase to $12,000 for single and $24,000 for married filing joint, so some that could itemize in 2017 may not be able to itemize in 2018 as you must exceed the standard deduction to be able to itemize.
Your property taxes paid in 2018 up to $10,000 will be allowed as an itemized deduction.
Don't worry as TurboTax will help you with these changes.
Please click on this link for more details on the 2018 tax law changes. https://turbotax.intuit.com/tax-tips/irs-tax-return/2017-tax-reform-legislation-what-you-should-know...
The standard deduction will increase to $12,000 for single and $24,000 for married filing joint, so some that could itemize in 2017 may not be able to itemize in 2018 as you must exceed the standard deduction to be able to itemize.
Your property taxes paid in 2018 up to $10,000 will be allowed as an itemized deduction.
Don't worry as TurboTax will help you with these changes.
Please click on this link for more details on the 2018 tax law changes. https://turbotax.intuit.com/tax-tips/irs-tax-return/2017-tax-reform-legislation-what-you-should-know...
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