Question

If I made a large payment in 2023 for past due property and/or school taxes, can I itemize that?

Forum|Forum|2 years ago
January 19, 2024
2 replies
0 views

We've always taken the standard deduction in the past, but this is the first year where itemizing might make sense, and it's not clear what we can list in this case.

TurboTax Basic Windows

X

xmasbaby0

Employee

You can enter the amount you paid for property tax in 2023. It is not important what year the payment was "for"----only that you paid it in 2023. But remember that no matter how big that payment was, your deduction for SALT (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.**

M

Mike9241

it may not matter but any penalties and interest included are not deductible.