I know that a business can deduct real estate taxes, but I have a specific question. Our small family business owns the structure that houses the business, but it does not own the land the business sits on, or any of the surrounding land. If the business pays the real estate taxes for the land, but does not own the land, are those real estate taxes a legitimate deduction on the tax return?
It seems to be clear to me that in order to take a deduction, you have to be the owner, and it does not matter who pays the taxes. If you are not the owner, then it is not a deduction you can take. Is this correct, or is this incorrect?
