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Investors & landlords
Ok thank you for the clarification that taxes are an expense not to be added to cost basis. However, I paid the entire year of 2019 property taxes and a pro-rated amount in 2020 up to the date of sale. It was $3326 for 2019 and $1045 for 2020 paid at closing. I’m allowed to add the total of $4371 as a property tax Expense for 2020 return?
March 6, 2021
8:15 AM