federal income tax deduction table

federal income tax deduction table

Can I still deduct state & local taxes like I have the past couple years? We have no state income tax in FL.?

The past couple years I know I've been able to deduct a certain amount of taxes on a Schedule A (Itemized Deductions) line 5 for State and Local Income Taxes. If you don't have all your receipts they gave you a certain amount (from a table) based off your income.

I've gone through my taxes online this year and I'm not finding where this same deduction is available? Has this item expired? Or am I missing something? Anyone done their Federal Income taxes for 2007 found this to be true? Thanks!

(Obviously we don't pay state income tax in FL.)
PS - I'm using H&R Block TaxCut...and I've gone through it several times and it's not coming up! I used this product last year and it worked fine. This year I'm starting to worry!

It's the sales tax deduction. It's alive and well having been extended for one year. Here's the link to the 2007 calculator to get the table amount for you.

http://apps.irs.gov/app/stdc/stdc.html;STDCSESSIONID=lyj3HwJFjJ6ThrJ238kv5fgh6LRpmlvc35RrcwNYjyx5BfJJNV8b!2087028831!-707767978

taxplus - Tax Information By Subject

 

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federal income tax deduction table

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Filed under: Tax Deductions

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