2019 Tax Law Changes

2019 - Itemized deductions-State Property & Income tax Limitation


The combination of residential property taxes and Income or sales taxes continues to be capped at $10,000.

Property taxes remain fully deductible for taxpayers in a business or for-profit activity, so taxes paid on rental realty can be taken in full on Schedule E.
Answer Provided by: CPAdirectory

Share This Answer

Looking For More?

View all 2019 Tax Law Changes Questions

View More Questions