I am filing my property tax information with IL state tax return. I own a condominium with adjacent condominium parking lot that I purchased separately but use as residential purpose. I receive separate tax PIN number for this parking lot. (Total, I receive two tax PINs - one for home, one for parking lot).
On my 1098 I received from my mortgager, both are included together as total real estate property tax.
Do I include this parking lot PIN under "Adjoining lot if included in property tax." ?
If so, on the next page, do I have to deduct the parking lot tax ($536) under "Property taxes NOT on residence"?
Illinois property tax credit says "Property tax paid on separately-deeded condominium
parking spaces." should NOT be included "What may not be included when I figure a
property tax credit?"
However, it also says " Property tax you paid on an adjoining lot to your principal
residence, if it is used for residential purposes. " CAN be included for property tax credit.
I use the parking lot residentially, but I am also not certain what "separately deeded" means- I purchased this lot with the home together, and it was included in the sales price. How should I proceed?
