- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
IL Property Tax Deduction Question
We moved from IL to Wi in July after selling our home. At IL home closing, Real Estate Settlement Sheet from our attorney shows a 2023 Real Estate Tax Proration deduction from our sale proceeds for the time we owned home thru July 2023 that the new owners will pay in 2024. Can this amount be added to our property taxes on federal and IL taxes? We noticed that IL cross references your property tax deduction with your property PIN. If IL won’t receive property tax payment until 2024 as part of the new owners tax bill, we are not sure if and how to include this on our tax return. Thx!
April 8, 2024
7:54 AM