Property taxes are itemized deductions reported on Schedule A, even for a "second home". These payments are not included in the sale of the property and have no effect on the capital gain/loss from the sale.
For your reference:
Sales expenses include:
- commissions
- appraisal fees
- broker's fees
- legal fees
- advertising fees
- home inspection reports
- title insurance
- transfer taxes or fees
- geological surveys
- loan charges (points) or other fees paid on the buyer's behalf
Sales expenses do not include:
- mortgage payoffs
- home equity loan payoffs
- rent-back costs
- payoff to creditors
- property taxes
- homeowner association fees
@MRivero
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