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Anybody know what happened with SALT in the BBB? (Original Post) Jit423 Jul 2025 OP
The state and local tax deduction, known as SALT, provides a federal deduction for state and local income taxes and Celerity Jul 2025 #1
Here: Wiz Imp Jul 2025 #2
Most people do not even recognize that Trump raised their taxes in 2017. nt Jit423 Jul 2025 #3
This message was self-deleted by its author MissB Jul 2025 #4

Celerity

(54,431 posts)
1. The state and local tax deduction, known as SALT, provides a federal deduction for state and local income taxes and
Thu Jul 3, 2025, 10:52 PM
Jul 2025

property taxes.

Under President Donald Trump’s 2017 tax cuts, there’s currently a $10,000 limit on the SALT deduction through 2025.

Passed early Thursday, Trump’s "big beautiful bill" includes a temporary SALT limit of $40,000 starting in 2025. That benefit begins to phase out, or decrease, after $500,000 of income.

Both figures would increase by 1% each year through 2029 and the cap would revert to $10,000 in 2030.

https://www.google.com/amp/s/www.cnbc.com/amp/2025/07/03/trumps-big-beautiful-bill-salt-deduction.html

Wiz Imp

(10,018 posts)
2. Here:
Thu Jul 3, 2025, 11:07 PM
Jul 2025
https://www.fidelity.com/learning-center/personal-finance/one-big-beautiful-bill

The SALT deduction, capped at $10,000 for all filers in 2017, increases to $40,000 and then will revert to $10,000 in 2030. The higher SALT cap would begin to phase out for incomes above $500,000 ($250,000 in the case of a married individual filing separately). After 2030, the $10,000 SALT deduction would be applicable to all filers regardless of income and would become permanent.

Response to Jit423 (Original post)

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