Question

Property Taxes

Forum|Forum|5 years ago
February 11, 2021
1 reply
0 views

Are all County and Municipality taxes deductible?

It depends.

The Tax Cuts and Jobs Act of 2017 limited the amount of state income, sales, and property taxes to $10,000 as itemized deductions on Federal tax returns.

County and Municipality taxes related to your Sch C business property or Sch E rental properties are fully deductible on those schedules.

They are also fully deductible as business expenses on Form 1065, 1120S and 1120 businesses.

Limit on Deductible Tax on Schedule A

R

RGKreilingAuthor

These are my house taxes by the county for scholls services fire etc

J

JeffreyR77

They are deductible as Itemized Deductions limited to $10,000. If the total of your Itemized Deductions do not exceed your Standard Deduction, they are not deductible anywhere else on your return.