The California stupidity fund, Part 2

About three months ago, I wrote about the $10,000 limitation on deductions for state and local tax that is part of the Tax Cuts and Jobs Act of 2017. In a nutshell, you can only deduct up to $10,000 in state and local tax. If you paid more, you get no tax deduction for the excess; not now, and not later. (This limitation applies only to non-business taxes. If you have a business and it pays taxes, such as our state GET, those taxes are still fully deductible.)