Property Tax Exemption

Real estate taxes (also called property taxes) for your main home, vacation home, or land are an allowable deduction if they're based on the assessed value of the property and the property is for your own personal use.

If you're a homeowner, your property taxes are entered in the Deductions & Credits section:

1. Sign in and open your return if you're not already in it.
2. Inside TurboTax, search for property tax and select the Jump to link at the top of your search results.
3. Answer Yes to the question Did you pay property or real estate taxes in 2022?
4. Enter your property/real estate taxes on the next screen.

Important Additional Information:

When your property/real estate taxes are included on your 1098, you’ll enter them as part of your Mortgage Interest in the property or real estate tax field. If they aren't listed on your 1098, you’ll enter them separately as property/real estate taxes.

However, you won't be able to deduct your property taxes if you're taking the Standard Deduction.  You must itemize your deductions in order to enter your property taxes.

This means your itemized deductions must exceed the standard deduction in order for this to be beneficial to you.

The standard deduction for 2022 is as follows:

For single taxpayers and married individuals filing separately, the standard deduction is $12,950 in 2021. 

For married couples filing jointly is $25,900, and  

For heads of households, the standard deduction is $19,400. 

If you're at least 65 years old or blind, you can claim an additional 2022 standard deduction of $1,400 ($1,750 if using the single or head of household filing status).  

If you're both 65 and blind, the additional deduction amount is doubled. 

Click here on additional information regarding how to enter your property taxes in TurboTax.

Click here for additional information on claiming property tax on your return.