Question:
We owed a home, got divorced. He moved out and left town.
I did renovations to the house and got it ready to sell.
It finally sold 1 year later, March 2020.
It is owner financing for 3 years.
The estimated property tax for 2019 is around $13,000 to be paid by December 2020.
How much can I deduct in my 2020 tax return?
In June 2019 I bought a townhouse to move into and did renovations there as well.
My property taxes for 2018 were $3793 I paid at closing June 2019.
2019 property taxes will be around $8,000, to be paid by January 2021.
How much can I deduct in my 2020 tax return?
Thank you!
