Is this only for the states who don't have Income taxes or can I take it because I don't pay state income taxes as my deductions make a 0 balance?
- posted
17 years ago
Is this only for the states who don't have Income taxes or can I take it because I don't pay state income taxes as my deductions make a 0 balance?
It's for any state that has a sales tax. You can deduct sales tax instead of state income tax if it works out better for you. Bob Sandler
It's your choice of you have both.
-- Vic Roberts Replace xxx with vdr in e-mail address.
Anyone who can itemize and for whom sales tax is more than state & local income tax can use this deduction instead of state & local income tax. __ Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH
It's your choice whether to deduct sales taxes or state income taxes. Seth
If your standard or itemized deductions already reduce your taxable income to zero or less, an additional deduction for sales taxes will not provide you any additional benefit or refund.
Everybody has the choice. It doesn't matter what state you live in. The optional sales tax deduction was extended to years beginning before 2008 by the Tax Relief and Health Care Tax Act of 2006. Katie in San Diego
P.S. Of course, this is assuming the President signs the bill -- which all indications are that he will. Katie in San Diego
Whichever is higher. Don't forget the new car, boat or plane. Jeff Berk
It seems to me that his _state_ taxable income is 0, but his Federal can still be higher. (Consider someone who owns a lot of Treasuries.) Seth
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