|
You can deduct actual sales tax paid (if you can prove the actual amount) or you can look up the "staqndard" amount on the tables the IRS have just released (they just revised the tables so make sure you have the current ones). The deduction is in lieu of state income tax that you may have paid, which is why Florida is probably being mentioned, as they have no sales tax. Also, if you live in a state like Michigan and are retired, the sales tax deduction is the way to go, due to the state's exclusion of retirement income.
|