The SALT deduction cap benefit under the OBBBA phases out for households with income above $500,000.
reported by 3 outlets · Reported fact · first recorded Jul 8, 1:30 AM
How each outlet reported it
cpapracticeadvisor.comUnrated · Jul 8, 12:45 AM
The SALT cap increase has phaseouts above $500,000 of modified adjusted gross income
Details: $500,000 modified adjusted gross income
cpapracticeadvisor.comUnrated · Jul 8, 12:45 AM
The $40,000 SALT cap is reduced for high-income taxpayers down to a minimum of $10,000.
Details: high-income taxpayers; $10,000 minimum
kiplinger.comUnrated · Jul 8, 12:45 AM
The SALT cap benefit phases out for households with income above $500,000
Details: $500,000
cpapracticeadvisor.comUnrated · Jul 8, 12:45 AM
The OBBBA includes a phase-out provision that reduces the deduction limit by 30% of the amount by which MAGI exceeds $500,000.
Details: 30% reduction; $500,000 MAGI threshold
kiplinger.comUnrated · Jul 8, 12:45 AM
The SALT enhanced deduction begins phasing out at $500,000 of income and disappears entirely at $600,000
Details: $500,000; $600,000
pasadenastarnews.comUnrated · Jul 8, 12:45 AM
The $40,000 SALT cap phases out starting at modified adjusted gross income over $500,000 and reverts to $10,000 at $600,000 MAGI.
Details: $500,000; $600,000; all filers