The $10,000 cap placed on deductibility of state and local taxes — such as state-imposed income taxes and property taxes — from federal income tax was put in place by the Trump-era tax-code overhaul of 2017.
The $10,000 cap placed on deductibility of state and local taxes — such as state-imposed income taxes and property taxes — from federal income tax was put in place by the Trump-era tax-code overhaul of 2017.