Can US citizens living abroad deduct foreign state and local income taxes or property taxes?

Jan 27, 2025 ... As an individual, your deduction for state and local taxes (SALT) (lines 5a, 5b and 5c on Schedule A of Form 1040) is limited to a combined ... Sep 26, 2024 ... The TCJA eliminated itemized deductions subject to the 2% adjusted gross income (AGI) floor, like unreimbursed employee expenses, brokerage and ... 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 “ ... 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,. Jan 5, 2022 ... I appreciate the work of Attorney General Tong and our Congressional delegation to restore the SALT deduction.” The lawsuit — which was ... Feb 8, 2024 ... The House of Representative is considering legislation that would retroactively double the cap on deductions for state and local taxes ... SALT Deduction. One of my most important priorities in Congress is to restore the full State and Local Tax (SALT) Deduction. As a proud Vice-Chair of the SALT ... Oct 9, 2017 ... The deduction for state and local taxes (SALT), long distained by policy experts on both sides of the aisle, seems likely to survive its most recent near-death ... Sep 30, 2024 ... According to the Treasury Department, the SALT cap has prevented more than 11 million Americans from deducting over $300 billion in state and ... Feb 12, 2025 ... $15,000/$30,000 SALT Cap: The current SALT deduction cap would be increased to $15,000 for individual taxpayers and $30,000 for married couples, ...