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No, property taxes paid are not federal taxes paid.
Property taxes paid are entered on the federal tax return as an itemized deduction on Schedule A.
The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.
Standard deductions for 2023
Single - $13,850 add $1,850 if age 65 or older
Married Filing Separately - $12,950 add $1,500 if age 65 or older
Married Filing Jointly - $27,700 add $1,500 for each spouse age 65 or older
Head of Household - $20,800 add $1,850 if age 65 or older
I don't believe so it goes to State
Property tax is not a federal tax. It is a state/local tax. You enter it while you are preparing your federal return.
Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and loan origination fees (“points”) that you paid in 2023. You should have a 1098 from your mortgage lender that shows this information. Lenders send these in January/early February.
Thanks for the quick response! I honestly didn't think so, otherwise my federal return would be a very high amount (relative to me). Also would have meant I did my taxes wrong since I've bought my house.
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