• Denise Hue

State and Local Taxes - Itemized Deductions (2019 Update)

Your deduction of state and local income, sales, and property taxes is limited to a combined total deduction of $10,000 ($5,000 if married filing separately). You can choose to deduct income taxes or sales taxes. Most people choose income taxes if they are employed and have withholding taxes or if estimated taxes are paid. Personal property taxes must be based on the value of the property. So, for example, you can deduct vehicle excise tax if based on the value of the vehicle but not annual vehicle registration fees.

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