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Real estate taxes - deductible?

Posted by nycefarm (My Page) on
Mon, Oct 4, 04 at 14:56

Are any or all real estate taxes deductible?


Follow-Up Postings:

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RE: Real estate taxes - deductible?

yes - for your primary home.


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RE: Real estate taxes - deductible?

We're able to deduct property taxes on rentals as well.


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RE: Real estate taxes - deductible?

At our age, 77 and 67, we don't file long form. The amount the government allows is more than we have for deductions.


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RE: Real estate taxes - deductible?

we can deduct for rentals as well, but that would be a different form - an offset to rental income


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RE: Real estate taxes - deductible?

That's good news. I may actually be looking at a nice refund next year between the mortgage interest paid and real estate taxes. Now, what to do with it...
Thanks!
Val


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RE: Real estate taxes - deductible?

Invest! Save! Both! LOL


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RE: Real estate taxes - deductible?

Property taxes on second homes (non-rental) are deductible also. So are taxes on raw land held for investment.


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RE: Real estate taxes - deductible?

We claim our taxes and interest on our home and our cottage, plus we claim the taxes we pay on our 2 empty lots.
Kathy G in MI


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