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URL:  http://boards.fool.com/since-you-live-in-tx-youll-use-the-sales-tax-24939603.aspx

Subject:  Re: Deducting state income tax Date:  12/15/2006  7:12 PM
Author:  cstillwell55 Number:  90013 of 121061

Since you live in TX you'll use the sales tax deduction on Schedule A for 2006. I'm not sure whether that deduction has been extended through 2007 or not, but if it has, in 2007 you'll need to choose whether you'll deduct state and local income tax, IOW what you pay NC, or sales tax. You can't do both.

Good point. I don't recall if the sales tax deduction is being extended either, but I'm sure the NC taxes are going to be greater.

Thanks,

~ Stillwell
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