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Money and Finances
Reply to "MD Taxes and SALT"
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[quote=Anonymous][quote=Anonymous]Keep in mind that in 2017 the standard deduction for MFJ was $12K vs 2018 at $24K. So you aren't really losing "$10k" in SALT[/quote] True, but they also eliminated the personal exemptions when they raised the standard deduction, so for a family of four, that's +$12K for the standard deduction and -$16K for the personal exemptions, plus a $4K child tax credit that helps offset it, along with the lower rates. So people losing $10K+ in SALT deductions really are still losing quite a lot.[/quote]
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