Deductions & credits

Property taxes are entered as an itemized deduction on Schedule A.  

The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

 

Standard deductions for 2021

  • Single - $12,550 add $1,700 if age 65 or older
  • Married Filing Separately - $12,550 add $1,350 if age 65 or older
  • Married Filing Jointly - $25,100 add $1,350 for each spouse age 65 or older
  • Head of Household - $18,800 add $1,700 if age 65 or older