How Does the $10,000 Limit on State and Local Tax Deductions Work?
State and local governments generally impose some type of tax on their citizens in the form of property taxes, sales taxes, or state income taxes. State and local tax deduction is abbreviated as the SALT deduction and is available to anyone listed on their federal tax returns. In 2017, however, the Tax Reduction and Employment Act was passed and the Federal Tax Act was reformed.
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