Can I report property tax on rental and personal property?

[harper-samora]

I know that you can't do this mortgage interest, but I wasn't sure about property tax.

[KrisD · Accepted solution]

Yes, personal property taxes are "other taxes paid" and deductible on schedule A.

Real estate tax is a rental expenses.

Home mortgage interest is reported on schedule A.

Interest on a loan on rental property is also deductible, but on the rental schedule E, not on the schedule A.

[suekuke]

Can I choose to claim my rental property tax on Schedule A rather than E if it benefits me more on A?

[ThomasM125]

No, you must assign the portion of the property tax that applies to the rental activity to that activity. The IRS requires you to report all income and expenses associated with rental or business income, you are not allowed to pick and choose.

[Carl]

If you will work through the program the way it's designed and intended to be used, you will deal with the SCH E rental property first. In the rental expenses section there is a box clearly labeled "real estate taxes".

If you converted the property from personal use to rental property in 2019, then (and I can't stress this enough) *READ THE SMALL PRINT* on each and every single screen.

Depending on your selections in the program, when asked for the real estate taxes paid for the rental property, the small print *MAY OR MAY NOT* tell you that *YOU* have to pro-rate those property taxes for SCH E for the period of time it was classified as a rental, and SCH A for the period of time the property was personal use.

When you get to the "Your HOme" section under the deductions and credits, PAY ATTENTION to the small print on the screen that asks you for property taxes. It *MAY OR MAY NOT* tell you that it already has the pro-rated amount from your first entry on the SCH E *IF* you were told in the SCH E section to enter the total amount paid.