Is sales tax deduction alive?

[MPlaks]

Friends,
Can you please set the record straight - has the sales tax deduction been officially extended? Thanks!

[Unregistered]

Yes

Still alive for 2005. See Pub. 17

[John of PA]

Sales Tax Deduction, yes but

Yes the Sales Tax Deduction is still in, but it's only deductible when greater than the total state and local income tax deduction. Mostly then of help to retired persons or persons in states that have no state income tax.

[Bees Knees]

Friends,
Can you please set the record straight - has the sales tax deduction been officially extended? Thanks!

The sales tax deduction applies for 2005, but it has not yet been extended beyond 2005. So unless Congress acts, 2005 is the last year.

[MPlaks]

Thanks guys,
I was asking about 2006-07. It seems that I read somewhere (around XMas time) that Congress did extend it for 2 more years.
So, did or did not?

[Joe Btfsplk]

Sales tax deduction

It will probably be allowed as long as there is a Texan in the White House--or someone from another state that has no state income tax--maybe Jeb Bush from FL.

Forget about it if John Kerry or Howard Dean get elected.

[Matt Sova]

God save us

If Kerry or Dean EVER get elected.