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Can I claim property taxes from previous years if I am paying them this year?

 
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3 Replies

Can I claim property taxes from previous years if I am paying them this year?

Is "this year" 2017?
DS30
New Member

Can I claim property taxes from previous years if I am paying them this year?

Yes. As long as your name is on the title, you will be able to claim property taxes in the year paid up (up to December 31, 2017) on any prior year property taxes. (This does not include any interest or penalties associated with any late tax filings.)

Please note that the IRS did put a limitation on prepaid property taxes for the 2017 calendar year.  The IRS will only allow prepaid 2018 property taxes if you paid the taxes before December 31, 2017 and your 2018 property taxes were already assessed before December 31, 2017.

If you are paying 2017 property taxes in 2018, there is a new limitation on the amount you will be able to deduct on your 2018 tax return. The new tax law only allows for state and local income, sales and property taxes in aggregate up to $10,000.

Please click on the following link for more information about TurboTax - New Tax Law's Impact on 2017 Taxes

Can I claim property taxes from previous years if I am paying them this year?

but not any interest or penalties.
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