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Deductions & credits
Yes, all property taxes you pay in 2018 are subject to the state, local, property tax and sales tax (SALT) $10,000 limit. You are a cash basis taxpayer. You report income in the year you receive it and you report expenses in the year you actually pay them, not for the year they relate to.
Related Information:- Where do I enter my real estate (property) taxes in TurboTax Online?
- Where can I find out how much property (real estate) tax I paid?
- Can I claim property (real estate) taxes paid for a prior or later year?
- Whats the difference between real estate tax, property tax, and personal property tax?
- Can I claim property (real estate) taxes if I recently bought or sold my home?
‎June 1, 2019
12:12 PM