Schedule L--2010 ..Does IRS Permit Standard Deductions PLUS Real Estate Taxes?

- M
- Michael
  
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posted
12 years ago

Thu, Sep 29, 2011 9:43 PM

I just want to be certain that the law as to Schedule L (permitting Standard Deduction PLUS state/local real estate taxes for 2009 tax year, but apparently NOT for 2010 tax year) has in fact been narrowed for 2010 (no longer permitting State/Local real estate taxes to be deducted in addition to Standard Deduction).

I again reach out to you folks just to be sure because the Pubs for

2010 state "at the time of printing the IRS was still considering permitting real estate taxes + standard for 2010 (as was permitted for 2009)".

Have they finished "considering"??!!

Again, thanks in advance.

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- A
- Alan
  
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posted
12 years ago

Thu, Sep 29, 2011 10:21 PM

I believe what the pubs said was that Congress, not the IRS, was considering legislation that would reinstate certain expiring tax benefits. Congress elected not to extend that specific tax benefit. That's why, you don't see it on the Schedule L.

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