Can adjustments made during a state or local tax audit affect the federal salt deduction?

Feb 7, 2024 ... The SALT Marriage Penalty Elimination Act would reform the penalty in which married couples filing taxes jointly are limited to $10,000 in SALT ... Jan 5, 2022 ... I appreciate the work of Attorney General Tong and our Congressional delegation to restore the SALT deduction.” The lawsuit — which was ... Jan 12, 2025 ... Rep. Nicole Malliotakis challenged Democrats to help House Republicans increase the state and local tax deduction as she blamed them for overtaxing New York ... Mar 1, 2023 ... The SALT deduction allows taxpayers to deduct state and local taxes paid from their federally taxable income, however the 2017 Tax Cuts and Jobs ... 2 days ago ... After a week of meetings and discussions, Republicans still haven't settled on how to handle the state and local tax deduction, also known as “ ... Sep 4, 2020 ... The SALT deduction is a warped way to do social policy; at worst it is a politically-motivated handout to the richest people in the richest places. The partnership or S corporation must also furnish each partner and shareholder with a copy of the Colorado K-. 1 reporting their share of income, deductions,. Jul 8, 2022 ... For Virginia income taxes, the electing qualifying PTE and the PTE's owners are required to add-back their respective federal deductions for ... Apr 11, 2023 ... How to Calculate the SALT Deduction · Property Taxes: Sum the total property taxes paid on real estate (individually owned properties only, not ... Feb 20, 2025 ... The state and local tax (SALT) deduction allows most taxpayers to subtract up to $10,000 in paid property, income, or sales taxes from their ...