The Senior Freeze payment that you received in 2024 was a refund of real estate tax that you paid in 2023. If you used the standard deduction on your 2023 federal tax return you do not report the Senior Freeze payment on your 2024 federal tax return.
The ANCHOR benefit that you received in 2024 was a refund of real estate tax that you paid in 2021. (Yes, 2021. That is not a typo.) If you used the standard deduction on your 2021 federal tax return you do not report the ANCHOR benefit on your 2024 federal tax return.
For reporting property tax refunds that you received in 2024 on your 2024 tax return, it doesn't matter whether you use the standard deduction or itemized deductions on your 2024 tax return.
When the New Jersey tax return asks how much property tax you paid in 2024, enter the base year amount for your Senior Freeze.
