Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Why are you losing your sales tax deduction? The combination of property tax and sales tax that can be deducted just has to be less than $10k, so if your property tax is less than $10k, you will be able to use up the rest of the $10k limit with the sales tax deduction. If your property taxes are more than $8k, then you will probably lose some of your sales tax deduction, but not all. But it's still allowable to take the sales tax deduction, as long as you are under the SALT limit of $10k.

Hi AJ, I just saw your response. I was under the impression that the sales tax deduction had not been extended for 2018. Seems you are right - as always, lol. Good to know!
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.