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Post by tiredturkey on Dec 28, 2010 20:35:47 GMT -5
Yesterday our local paper ran an Associated Press story about provisions in the recently enacted income tax legislation. Toward the end of the article they mentioned that filers who do not itemize their returns will no longer be permitted to deduct their property tax payments, and that only 1/3 of Americans itemize. This will impact the vast majority of my friends and neighbors but this is the only coverage of the provision I've seen.  |
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TheOtherMe
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Post by TheOtherMe on Dec 28, 2010 21:30:02 GMT -5
That was only in effect for 2008 and 2009 and was not part of the bill recently passed by Congress. People who do not itemize will not be allowed to deduct property tax on their 2010 tax returns.
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taxref
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Post by taxref on Dec 31, 2010 19:54:33 GMT -5
I'm afraid the answer given by Taxpro is correct.
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TheOtherMe
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Post by TheOtherMe on Jan 1, 2011 20:18:29 GMT -5
I've had to explain this to my elderly parents several times already.  |
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