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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Explain SALT for DC residents making 180k year. Asking for a friend. What about capital gains tax for selling 2nd home?[/quote] Most DC resident will pay somewhere between 10,000 and 30,000 (closer to 10) in SALT every year, so instead of the standard deduction, they will be able to deducts both their property tax and their D-40 state income tax each year, if it comes to over $27,000, then they itemize it and take that instead of the standard 27,000 deduction.[/quote] Yep. A lot of people in rural districts losing Medicaid and snap so I can get more SALT. [/quote]
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