- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@KrisD15 Thanks for the reply! So, I don't know if (or how much) my mistaken reporting of past property payments impacted my tax liability without redoing those years of taxes that were mis-reported.
I do not pay state taxes as I live in TX.
For Federal, 2022 was the first year I started taking the standard deduction, all years prior to that for which I owned a home were itemized deductions. I received my first property tax bill in 2015 – after digging out old records, some years I reported tax in the correct year and other years I made 2 payments and only reported one of them but in the wrong tax reporting year. For example, I made 2 payments in both 2016 and 2018 but only reported one correctly for each tax year and the other payment in a year I shouldn't have (2015 and 2017). I have never reported the same payment twice. I reported it correctly in 2020 (Dec payment) and understand the IRS usually isn't looking back beyond 3yrs. So, the question remains, is it necessary to correct 2021-2023 taxes considering it only matters for itemized taxes (which is only 2021 for the past 3 years) or just not reflecting a 2024 property tax payment (since it was reported on 2023 taxes) and getting back on track when reporting my 2025 taxes next year?
Thanks for the help.