Supplementary Property Tax payment made for prior years in 2023

Forum|Forum|2 years ago
September 12, 2023
1 reply
0 views

My property was not reassessed after I purchased my house in 2020. In 2023 I paid supplementary tax for 2020 and 2021. I am yet to pay the supplementary tax for 2022 in Apr 2024. Should I take the deduction for 2020 and 2021 supplementary property tax in my 2023 tax returns and 2022's in 2024 returns or should I amend my returns for 2020, 2021 & 2022?

Not A Product Question

Best answer by Anonymous_

You take your property tax deduction in the tax year you actually pay the tax.

The year, itself, doesn't matter provided the tax has been assessed and is payable (i.e., you can't pay ahead of time, before the tax on the property is assessed).

Anonymous_Answer

Employee

You take your property tax deduction in the tax year you actually pay the tax.

The year, itself, doesn't matter provided the tax has been assessed and is payable (i.e., you can't pay ahead of time, before the tax on the property is assessed).

xmasbaby0

Employee

And....remember that the amount you can get as an itemized federal deduction for property tax (or other state and local taxes) is capped at $10,000.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**