The recent implementation of TCJA Act of 2017 limits the deductions for state and local taxes, which includes property taxes and sales taxes, to a maximum amount of $10,000 each year. Is the IRS taking drastic steps towards curbing home ownership? Does this place a disproportionate burden on taxpayers residing in states with higher market values on residential property?

The recent implementation of TCJA Act of 2017 limits the deductions for state and local taxes, which includes property taxes and sales taxes, to a maximum amount of $10,000 each year. Is the IRS taking drastic steps towards curbing home ownership? Does this place a disproportionate burden on taxpayers residing in states with higher market values on residential property?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter1: An Introduction To Taxation And Understanding The Federal Tax Law

Section: Chapter Questions

Problem 28DQ

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