Question

Write any two benefits of 10K - dhalt in respect of enterining distributes ?
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Answer 1

Answer:

The SALT deduction allows you to deduct up to $10,000 of your state and local property taxes in addition to state income or state sales tax – not both. The combination you choose to deduct will depend on your specific circumstances and what benefits you most.

Note: If you use part of your home for business, you can still deduct property tax on your business return on top of the $10,000 limit for personal use. Learn more about self-employed taxes here.

Foreign property tax is not included in the SALT deduction. After tax reform, you are no longer able to deduct foreign real estate taxes.