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Real Estate added to Standard Deduction

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    Real Estate added to Standard Deduction

    I know it's late in the season to be asking this. Real Estate added to standard, I've told my clients its for their residence, they can't add other real estate taxes paid--I got that somewhere. However, I was reading the tax instructions and it was saying Real Estate tax otherwise deductible on Shed A. That would mean ALL real estate tax wouldn't it????

    #2
    Originally posted by Super Mom View Post
    I know it's late in the season to be asking this. Real Estate added to standard, I've told my clients its for their residence, they can't add other real estate taxes paid--I got that somewhere. However, I was reading the tax instructions and it was saying Real Estate tax otherwise deductible on Shed A. That would mean ALL real estate tax wouldn't it????
    Yes M'am - up to the $500/$1000 limit.

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      #3
      Just not foreign real estate

      See Pub 17, page 139.

      OK - after reading OP again, you probably got that part already. Sorry.
      If you loan someone $20 and never see them again, it was probably worth it.

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