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Additional Standard Deduction Amount for Real Estate Taxes


The Internal Revenue Code (IRC) allows taxpayers who pay state or local real estate taxes and do not itemize their tax deductions, to deduct additional deduction equals to the amount of real estate taxes paid, but no more than $500 for single filers or $1,000 for joint filers , to use it in your tax return, please click here.
 
 
There are several requirements that must be met: 1) The taxes must be imposed on you by the state or local government, 2) The tax was paid during your tax year, 3) The taxes must be levied for general public welfare on the assessed value of the real property and charged uniformly on all property under the jurisdiction of the taxing authority. Foreign real estate tax is not allowed. Where do I report Additional Standard Deduction Amount for Real Estate Taxes? The deduction is claimed on IRS form 1040, Schedule A, line 6.
 
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