Question

We refinanced in 2016 and property taxes were not paid until 2017.Do I claim this property tax payment on my 2016 return or wait until 2017 and report both 2016 and 2017?

Forum|Forum|7 years ago
June 6, 2019
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We refinanced our home at the end of 2016 and for various reasons there was a delay in paying our 2016 property taxes. The taxes did not end up getting paid until early 2017. Do I still claim this property tax payment on my 2016 tax return or do I wait until 2017 taxes are due and then report payments for both 2016 and 2017 at that time?

G

gerald-a-griggs

THE TAX DEDUCTION APPLIES TO THE YEAR IN WHICH IT IS ACTUALLY PAID - SO DEDUCT THE PAYMENT MADE IN EARLY 2017 IN 2017 RETURN. PAYMENTS MADE IN 2016 - DEDUCT IN 2016 RETURN.