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I sold my home (2017) and purchased a new home. In addition to my 2016 taxes (paid 2017), can I deduct the closing tax proration to be paid by the new owners?
In Illinois, taxes are paid in arrears. The buyer received credit for the months when I owned the home. Is this credit deductible for me and to be added to my already paid property taxes? The new owners have already paid the first installment tax bill (for 2017, payable in 2018) in 2017 due to the new tax laws.
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‎June 6, 2019
8:52 AM