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Property deduction for non-itemizers.

Significantly less complicated is a new standard property deduction for taxpayers who do not itemize deductions. Image by farlane via Flickr Before the new law, only itemizers could deduct state and local property taxes. The housing act gives non-itemizers a limited deduction for state and local property taxes by increasing the amount of their standard deduction by the lesser of the amount...

December 21st, 2008 by The Tax Man 
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