Your individual deduction for state and local taxes, including property taxes, is capped at $10k per year starting in 2018. This means that the total of the following taxes on Schedule A will be limited to $10k:
- State and local taxes withheld on your W-2
- State taxes paid (possibly for what you owed the state for last year)
- Real estate taxes paid on your primary residence, second residence or vacant lot
- Property taxes paid on your automobile
Tax Guide
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Interest Guide
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