My wife inherited her father's home in 2017. Where do I account for the property tax paid?

Username3663139 — Mon, 08 Mar 2021 00:17:45 GMT

The home is now in her name and this isn't the inheritance tax, this is the property tax paid for 2020. Where is this accounted for on taxes or can we account for it, if it will make any difference?

Re: My wife inherited her father's home in 2017. Where do I account for the property tax paid?

Anonymous_ — Mon, 08 Mar 2021 00:27:55 GMT

@Username3663139 wrote:
Where is this accounted for on taxes or can we account for it, if it will make any difference?

The property tax paid would be an itemized deduction (Schedule A) and will not make any difference unless the total of your Schedule A deductions exceed your standard deduction (which is around $24,800 if you are filing a joint return with your wife).

See https://www.irs.gov/instructions/i1040sca

Also, the deduction for state and local taxes is generally limited to $10,000.

topic My wife inherited her father's home in 2017. Where do I account for the property tax paid? in Deductions & credits

My wife inherited her father's home in 2017. Where do I account for the property tax paid?

Re: My wife inherited her father's home in 2017. Where do I account for the property tax paid?