Question

second home tax deduction

Forum|Forum|1 year ago
October 9, 2024
1 reply
0 views

I got married last year. I own a home and my husband and I own a second home together. My home has a mortgage and I was able to enter the mortgage information (taxes, interest, etc) into Turbo Tax Premier (desktop version). However, the home my husband and I own together does not have a mortgage. Where can I enter the taxes we paid on this home in TurboTax Premier desktop version? Is it possible to itemize the taxes on this home as well?

X

xmasbaby0

Employee

You can enter the property tax on the second home---but do remember that you are subject to the cap of $10,000 for the deduction---no more than that even on the combination of the two homes.

**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.**

R

RoRascAuthor

Do you know Where in Turbo Tax Premier I would enter it? I cant figure out where to put it into the program. Thanks for your help.

X

xmasbaby0

Employee

Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and loan origination fees (“points”) that you paid in 2023.

In other words----the same section that you used for the first home.

**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.**