new buyer. tax question. thanks for help.

No and Yes. No. The change occurred in 2017, during the Trump Administration when Republicans were in charge. The change resulted in a larger standard deduction, eliminating the need for many folks to itemize their deductions. Yes, This law did cap the amount of State And Local Taxes (SALT) that could be deducted if you did itemize to $10,000. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300.