KrisD15
Expert Alumni

Deductions & credits

It depends on whether you were the Buyer or seller and if your state bills for the year past or the year started. 

 

If property tax is paid ahead, the seller takes credit for the months paid up to closing and the buyer takes credit for what they reimburse the seller for months remaining. 

Since you show "prepaid" I assume that is the way it worked for you. 

The other fees are added to the basis. 

Only if the tax is 

based on value

charged evenly to all property owners 

may they be deducted as property taxes paid. 

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