Those would actually be included as a rental expense on your Schedule E. They would not be included as an adjustment to your cost basis as they are tax deductible expenses.
You would enter your property tax expense information for a rental property in the federal interview section.
- Select Income & expenses
- Scroll down to see All Income and select Rentals, Royalties, and Farm
- Select Rental Properties and Royalties (Sch E)
- Select Edit Another Rental or Royalty property as prompted.
- Select Yes to review your rental and royalty information
- Continue through the screens until you see the page titled Rental and Royalty Summary. Select Edit to the right of the applicable property and enter your property taxes as expenses in this section.
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