You may be able to itemize four kinds of non-business taxes if you choose to itemize your deductions instead of claiming the standard deduction.These four kinds of non-business taxes are:
- State local and foreign income taxes - State and local taxes are typically withheld from your paycheck and would appear on your W-2 in the designated box. Generally, you can take either a deduction or a tax credit for foreign income taxes imposed on you by a foreign country or a United States possession.
- State and local general sales taxes can be deducted instead of state and local income tax (you cannot deduct both general sales taxes and income taxes). A state and local general sales tax deduction may be a greater deduction than your state and local income tax if you made a large purchase such as a vehicle or boat or live in a state that doesn’t have income tax.
- State and local personal property taxes - are charged to you on a yearly basis (even if collected more than once or less than once a year) based on the value of personal property such as a car, truck or boat.
- State, local and foreign real estate taxes - Deductible real estate taxes are generally any state, local, or foreign taxes on real property levied for the general public welfare. The charge must be uniform against all real property in the jurisdiction at a like rate.
You may also deduct your estimated taxes you paid to local or state governments during the year and any prior year's state or local income tax you paid during the year.