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2. The 6 Most Important Tax Deductions You Need to Claim - AOL

   www.aol.com/finance/6-most-important-tax...

   For tax purposes, use the ad valorem number, which is the assessed value of real estate or personal property. The maximum deduction you can claim for all state and local taxes, including real ...

3. State and local tax deduction - Wikipedia

   en.wikipedia.org/wiki/State_and_local_tax_deduction

   Eligible taxes include state and local income taxes, property taxes, and either state and local sales taxes or state and local general sales taxes. [8] To claim the deduction, taxpayers must itemize their deductions on Schedule A of Form 1040. There is a $10,000 limit on the SALT deduction, or $5,000 for a married person filing a separate ...

4. Are Property Taxes Deductible? - AOL

   www.aol.com/property-taxes-deductible-224345757.html

   If you owe $8,000 in state taxes and you have property taxes of $6,000, then the SALT cap will limit your deduction to $10,000 not $14,000. Property tax deductions on rental properties do not fall ...

5. Can You Deduct Homeowner’s Insurance on Your Taxes? - AOL

   www.aol.com/deduct-homeowner-insurance-taxes...

   Real estate tax: You can deduct local and state real estate tax, but only up to $5,000 ($10,000 if married filing jointly). ... The maximum deduction is $1,500 or 300 feet. Include this deduction ...

6. Tax Reform Act of 1986 - Wikipedia

   en.wikipedia.org/wiki/Tax_Reform_Act_of_1986

   26 U.S.C. § 469 (relating to limitations on deductions for passive activity losses and limitations on passive activity credits) removed many tax shelters, especially for real estate investments. This contributed to the end of the real estate boom of the early-to-mid 1980s, which in turn was the primary cause of the U.S. savings and loan crisis.

7. Property tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Property_tax_in_the_United...

   This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.

8. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

   www.aol.com/finance/10-tax-deductions-know-2023...

   If you pay state and local income taxes or state and local sales taxes — including real estate and property taxes — you may be able to deduct up to a combined total of $10,000, or $5,000 if ...

9. Internal Revenue Code section 1031 - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   The same principle holds true for tax-deferred exchanges or real estate investments. As long as the money continues to be re-invested in other real estate, the capital gains taxes can be deferred. Unlike the aforementioned retirement accounts, rental income on real estate investments will continue to be taxed as net income is realized.