Salt Deduction Cap 2024 Calculator. The bill would increase the $10,000 cap on state and local tax (salt) deductions to $20,000 for joint tax filers who earn under $500,000 in adjusted gross income for the 2023 tax year. The maximum amount you can take for the salt deduction for 2023 (taxes filed in 2024) is $10,000 ($5,000 for married couples who file separately), the same as it was for tax year 2022.
Prior to the enactment of the tax cuts and jobs act, taxpayers who itemize were permitted to. The salt deduction cap limits the itemized deduction for state and local taxes to $5,000 for a married person filing a.
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