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Question
What is the difference between line 5b and 5c on Schedule A when I'm itemizing my deductions?
AI accountant’s answer:
On Schedule A for Form 1040, which is used to itemize deductions, line 5b and line 5c pertain to taxes you paid during the tax year: 1. Line 5b: Deductible state and local real estate taxes. On this line, you report the amount of state and local real estate taxes that you paid during the tax year. Real estate taxes are usually assessed on the value of your property and paid to your local government. 2. Line 5c: Deductible state and local personal property taxes. On this line, you report the amount of state and local personal property taxes that you paid during the tax year. Personal property taxes are assessed on items such as vehicles, boats, or recreational vehicles. Note that the combined total of state, local, and property taxes you can deduct is limited to $10,000 ($5,000 if married filing separately) due to the State and Local Tax (SALT) deduction limitation. When itemizing deductions, make sure to enter the appropriate amounts on each line to accurately reflect your deductible taxes.
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Isaiah McCoy, CPA
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Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

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File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

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Ask an AI Accountant

A free tool by

Question
This is some text inside of a div block.
AI accountant’s answer:

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Comment from reviewer
This is some text inside of a div block.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Not Correct.
Icon check
Looks good

Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

Find write-offs.
File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

Get started