Can’t Deduct Vacation Home Property Taxes?

Can’t Deduct Vacation Home Property Taxes?

Can’t Deduct Vacation Home Property Taxes? Consider Renting It: The recently enacted Tax Cuts and Jobs Act of 2017 imposed harsh limitations on the federal deductibility of state and local taxes. Beginning in 2018, the aggregate maximum amount of state and local taxes that may be deducted in any year (other than such taxes attributable to a business or real estate rented more than 14 days) is $10,000.