Can I deduct 2018 prepaid New Jersey state property taxes on my 2017 new Jersey taxes?

[sbrown82]

I paid in 2017 the 1st 2 quarters 2018 State Property Taxes, which New Jersey already billed me for, but not with 2017 due dates.  This was done to maximize fed tax refunds to compensate for loss in 2018.  I know that I can deduct all state property taxes paid in 2017 on fed taxes.  My question is will NJ allow the deduction of prepaid 2018 property taxes on a 2017 NJ tax return.

[MichaelL1 · Accepted solution]

The first two-quarters of property taxes were assessed (but not due) and due to being assessed they are deductible as property taxes on the 2017 Federal return.

Prepaid any unassessed property taxes are not deductible until they are assessed. 

EDITED: 2-13-2018 2;26 PM (CST) to remove State from first sentence.  

[danielfurlong]

Source New Jersey Division of Taxation website 2/13/18
"Residents can claim deductions/credits on their New Jersey Income Tax returns for the property taxes they have paid. However, they can take these deductions/credits only in the year in which the property taxes are due. So taxpayers can’t take deductions or credits for 2018 property tax pre-payments on their 2017 New Jersey Income Tax returns (NJ-1040). They must wait until they file their 2018 returns.

Important note: When using tax preparation software, be sure to double check the property tax amount transferred from the Federal 1040 to the NJ-1040. You may need to manually enter the 2017 property tax paid to New Jersey to exclude any prepayment of 2018 property taxes."

Prior answer is incorrect  As of today TurboTax carries the federal number to NJ (subject to the $10,000 max)

[MichaelL1]

Thank you and I will Edit answer to remove State from it as it is correct for the Federal return

[fanfare]

yes. but NJ max property tax deduction is $10,000. You probably know that.