Commonly overlooked tax deductions, credits

State and local taxes

If you itemize, you may deduct either state and local sales tax or income tax - but not both - for the year. The deduction is limited to filers with an adjusted gross income of less than $135,000 for single filers, and $260,000 for those who are married filing jointly.

Also: 18 tax changes to know about

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State and local taxes If you itemize, you may deduct either state and local sales tax or income tax - but not both - for the year. The deduction is limited to filers with an adjusted gross income of less than $135,000 for single filers, and $260,000 for those who are married filing jointly. Also: 18 tax changes to know about

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