General Discussion
In reply to the discussion: Democrats should say they'll restore the full State Income & Property deduction for wage earners [View all]spooky3
(34,670 posts)Please see this Washington Post article, for starters:
"On Dec. 22, Trump signed into the law the new Republican tax bill overhauling the tax code. A key provision of the bill modifies a long-standing tax break that allowed individuals to deduct from their federal taxable income any state and local taxes paid that year, including real estate or property taxes." (my bold)
https://www.washingtonpost.com/news/wonk/wp/2017/12/27/essential-questions-and-answers-about-prepaying-your-property-taxes/?utm_term=.e23af94e6d43
more quotes:
"The new bill only lets people deduct up to $10,000 in state and local taxes, including property taxes. For instance, a household that pays $8,000 in property taxes and $12,000 in state and local income taxes currently can deduct $20,000 from their federal taxable income. If they pay an average 20 percent tax rate, that means they would save $4,000 on their overall tax bill thanks to the deduction.
But in April 2019, when they file their 2018 taxes, they could claim just $10,000 in state and local tax deductions. For simplicity's sake, if they are still paying a 20 percent tax rate, now they would save just $2,000 off their tax bill. (Authors of the bill say that for most people, the deductions reduced value is well offset by other beneficial provisions of the new law, including lower federal tax rates.)"
Further, you can go directly to the IRS site for their use of the terminology for 2017 (current year, not as changed in 2018):
https://www.irs.gov/credits-deductions/individuals/deductible-taxes-at-a-glance
"You may be able to deduct four kinds of non-business taxes if you itemize deductions using Form 1040, Schedule A, Itemized Deductions (PDF):
state, local and foreign income taxes;
state, local and foreign real estate taxes;
state and local personal property taxes; and
state and local general sales taxes."