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C
Confused-Mom-77
Employee
May 31, 2019
Question

Can I deduct two years property tax in same year?

  • May 31, 2019
  • 1 reply
  • 0 views
We paid 2014 and 2015 property taxes in 2015  -  can we deduct both years on 2015 tax return?

    1 reply

    O
    Opus 17
    Employee
    May 31, 2019

    Yes, you deduct whatever taxes you actually paid to the taxing authority in 2015.

    But note that if the money was paid to your mortgage company and is held in escrow, that is not deductible until the escrow company pays the taxing authority.  Up to that point, it is still technically your money.

    C
    Confused-Mom-77Author
    Employee
    May 31, 2019
    Thank you -  we pay taxes direct to the taxing authority - so I can deduct the taxes paid for 2014 and 2015 on my 2015 tax return without any type of penalty?
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