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FarmGrl88
February 20, 2020
Question

Deeded property/ taxes

  • February 20, 2020
  • 1 reply
  • 0 views

My Parents have turned our farm over to me(via Deed). Everything is listed in my name including their home. The tax bills come to me but are paid by them. How do we go about reporting this information on our taxes?

    1 reply

    I
    Irene2805
    February 20, 2020

    Unless your parents are still listed on the title they cannot deduct the property taxes. To deduct any tax, it must be imposed on you. If you are not on the title, the tax was not imposed on you and you can not deduct it.

     

    For more information, please see this TurboTax Help article:  Can I deduct property (real estate) taxes?

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