Question

Deduction for real estate taxes paid on vacation condominiums

Forum|Forum|5 years ago
March 19, 2021
1 reply
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I have ownership in a resort based vacation condominium association. I pay real estate taxes for my ownership as part of my annual dues. I did not receive a 1098 for the timeshare and I the mortgage is paid so I have no mortgage interest to declare. Are the real estate taxes deductible and how do I enter the amount into TurboTax Deluxe?

M

MinhT1

The property taxes paid on your vacation condominium is deductible as an itemized deduction in Schedule A. Please note that that the Sales and Local Taxes (SALT) deduction is now limited to $10,000.

You can enter Property Taxes by following these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then on Deductions & Credits on top of the screen
Scroll down to All Tax breaks, locate the section Your Home and click on Show more
Click Start next to Property (Real estate) Taxes.