How can my mom deduct a -$108,000 property tax lien payment made in 2020 from her 1065 tax return for her 1065 partnership (small business)? Details below:
1.) Property title is in mothers name, nobody claims the property as primary residence, no other tenants besides the small business. Everybody is in NJ.
2.) Small business is a partnership 50/50 split between mom/dad.
3.) Small business resides on the property.
Would the property tax lien payment be included on her individual tax return, which would only allow -$10,000 deduction? Or can it be included as part of her 1065 small business return as an expense/deduction/loss and offsets revenues.
Thank You
