Friday, December 8, 2006

SALES TAX DEDUCTION

SALES TAX DEDUCTION RESTORED:
Congress restored this deduction which had expired.
Tax forms have already been printed without providing a place to enter the deduction.

My guess is that it will go on Schedule A, line 8, "Other Taxes."
If you have foreign taxes, they are deductible on line 8 if you don't file Form 1116 for the foreign tax credit.