16
Apr 2018
0
Home ownership is a key element of the American dream for many, and the U.S. tax code includes many tax breaks that help support this dream. If you own a home, you may be eligible for several valuable breaks when you file your 2017 return. But under the Tax Cuts and Jobs Act (TCJA), your home-related breaks may not be as valuable when you file your 2018 return next year. 2017 vs 2018 Here’s a look at various home-related tax breaks for 2017 vs 2018: Property tax deduction For 2017, property tax is generally fully deductible — unless you’re subject to the alternative minimum tax (AMT). For 2018, your total deduction for all state and local taxes, including both property taxes and either income taxes or sales taxes, is...