If you own a pass-through entity and your state offers a pass-through entity tax (PTET) election, it can be meaningful even with the expanded state and local tax (SALT) deduction cap. PTET payments are deductible at the entity level and are not subject to the individual cap. This can be particularly beneficial if your MAGI places you in the phase-out range or if your state tax burden exceeds $40,000. Consult with a tax professional to evaluate your specific situation.
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