[sparklite2]

new limit of $10,000 on deducting state and local taxes on federal tax returns

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I thought all local and state taxes were ceasing to be deductible. Isn’t that what California, New York, et al were screaming about?

[bkopto]

I thought all local and state taxes were ceasing to be deductible.

No, there is a $10,000 deductible.

[cgbg]

This article walks through the details of state and local tax deductions:

https://smartasset.com/taxes/heres-how-the-trump-tax-plan-could-affect-you

The new limit is $10,000.

[Myrddin]

I got bit by the $10k limit this year. My property taxes for two houses total about $4,000. Income tax on everything over $100k is 8%. The higher $24k standard deduction for married compensated.