Do You Know These Exceptions to the $10,000 Cap on Deductions?

November 01, 2021 | Texas REALTORS® Staff

The 2017 Tax Cuts and Jobs Act included a controversial change: a $10,000 cap on an individual’s itemized deductions for state and local taxes, including property taxes.

But the $10,000 cap is not as absolute as it appears. There are relevant exceptions, such as vacant land held for investment. Learn about this and other exceptions in this article from the August issue of Texas REALTOR® magazine.

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Do You Know These Exceptions to the $10,000 Cap on Deductions?

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