3 ms·
Unless your property taxes are over $20K per year, you can? It's just most people don't because their standard deduction is greater than what they have records
by tpmoney 4y ago
Unless your property taxes are over $20K per year, you can? It's just most people don't because their standard deduction is greater than what they have records for itemizing. https://www.thebalance.com/property-tax-deduction-3192847 https://www.thebalance.com/property-tax-deduction-3192847
- kelnos 4y agoThe link you provide points out the SALT deduction cap of $10k. With the standard deduction up to $12k+ now, if your only itemized deduction is your property and state income taxes, itemizing isn't going to be worth it. We were so close to losing the cap on SALT deductions with the Inflation Reduction Act; I'm super bummed it didn't make it into the final bill.