All about SALT - Deducting State and Local Taxes on a Schedule A

Although it's been limited in recent years, the Schedule A deductions for state and local taxes (SALT) are an important deduction for many taxpayers. This video goes into detail about what state and local taxes can and cannot be deducted on a Schedule A.

To learn more about itemizing deductions, click here:    • Can I Itemize Deductions?  

To find out how sometimes your state tax refund could be taxable, click here:    • Why is my state tax refund taxable?  

Resources and Additional information:

IRS Publication 17: "Your Federal Income Tax": https://www.irs.gov/pub/irs-pdf/p17.pdf

IRS Schedule A: "Itemized Deductions": https://www.irs.gov/pub/irs-pdf/f1040...

Instructions for IRS Schedule A (contains the worksheet and tables for calculating a sales tax deduction): https://www.irs.gov/pub/irs-pdf/i1040...

Online Sales Tax Calculator at irs.gov: https://www.irs.gov/SalesTax

Information on the Georgia Title Ad Valorem Tax, and Annual Georgia EV user fee and be found at https://www.dor.georgia.gov

The Tax Geek on Twitter: @taxgeekusa

The Tax Geek on Reddit: www.reddit.com/r/askataxgeek

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Intro Music: "Bluesy Vibes" - Doug Maxwell - YouTube Audio Library

Outro Music: "Modern Attempt" - Track Tribe via YouTube Audio Library

DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or investment advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or investment professional.

The information in this video is current as of date of publication, and is subject to changes.