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To: Not_Who_U_Think; Svartalfiar

Property Tax is deductible, as are charitable/church contributions.


107 posted on 11/27/2022 7:02:52 AM PST by WildHighlander57 ((the more you tighten your grip, the more star systems will slip through your fingers.) )
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To: WildHighlander57

“Property Tax is deductible, as are charitable/church contributions.”

Yes, they are, but with the standard deduction at $12,950 this year (plus $1400 for us old coots), unless you’ve got a nice chunk of mortgage interest to claim you’ll be hard pressed to find enough. Over the years they’ve taken away deductions while raising the standard deduction. So, unless you’re self-employed, rich or in a special circumstance, you are better off going short form.

That’s why this is such a kick in the teeth. You’re going to have to jump through a lot of hoops and probably pay a tax preparer just to save a buck, maybe.

Better to just wince and pay.


113 posted on 11/27/2022 7:41:38 AM PST by Not_Who_U_Think
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To: WildHighlander57
Property Tax is deductible, as are charitable/church contributions.

Property tax is deductible, IF you itemize your deductions. Standard deduction means no property tax deduction. Charitible stuff is deductible even with the standard deduction, but only up to I think $750 or some low number. $400 maybe.
128 posted on 11/27/2022 9:12:49 PM PST by Svartalfiar
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