Question

Will I be able to deduct more than $10,000.00 in state and local property taxes for the year 2017 when I file my return in 2018?

Forum|Forum|7 years ago
June 5, 2019
4 replies
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Will I be able to deduct more than $10,000 property taxes when I file my 2017 return?

TurboTax Free Edition Online

Employee

Yes, if you are not subject to AMT.
The tax bill does not limit the amount of State or Local income taxes paid, sales taxes paid or property taxes paid and entered on a Form 1040 Schedule A as an itemized deduction on a 2017 tax return.

B

bjlent2018

Employee

The system of turbotax is calculating the property tax deduction at MAXIMUM of $10,000 which is for 2018 TAXES, NOT 2017 TAXES!!!! PLEASE FIX THIS FOR ALL OF US!. I paid $18452 in taxes and there's $0 change from $10,000 to $18,452! Thanks.

rjs

Employee

@bjlent2018 - TurboTax does not limit the property tax deduction for 2017. The fact that your tax or your refund doesn't change does not mean that TurboTax is limiting the deduction. There are a number of possible reasons that your tax or refund doesn't change when you increase a deduction. See the answers to the separate question that you posted about this.

rjs

Employee

For 2017 there is no limit on the deduction for property tax or sales tax, and no limit on the deduction for 2017 state and local income taxes. However, on your 2017 tax return you cannot deduct prepaid state or local income tax for 2018 that you pay in 2017.

On your 2017 tax return you will be able to deduct more than $10,000 property tax that you paid in 2017.