deducting RE taxes or SALT - Spidell

deducting RE taxes or SALT

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Message Board deducting RE taxes or SALT

This topic contains 1 reply, has 2 voices, and was last updated by Lynn Freer 5 months, 1 week ago.

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  • #164906
    Anonymous

    Has there been any updates on this? Can you choose one over the other? Esp concerned for clients who overpay 2018 estimates and who are taxed on their refunds…can they deduct RE taxes instead? Is there a rule of thumb to follow?

     

  • #164933
    Lynn Freer
    Participant

    Go to the news section of the website and See IRS releases guidance on SALT limitation and taxability of refunds
    Friday, March 29, 2019. There is a formula