abctax55
Level 15
‎02-01-2024 05:47 PM
More 'breaking' news from Spidell:
 
As currently written:
  • The increase would apply only to the 2023 tax year; and 
  • The $500,000 AGI threshold would be a cliff, meaning that MFJ taxpayers with $500,000 or more of AGI would still be limited to the $10,000 deduction.
The bill must still be passed by both the full House and the Senate. 
"*******Tax software is no substitute for a professional tax preparer*******
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