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Pimbley
New Member

Can I deduct both a Feb 2017 payment for 2017 property taxes, and a Dec 2017 payment (I prepaid) for 2018 property taxes, on my 2017 return?

 
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KarenJ
Intuit Alumni

Can I deduct both a Feb 2017 payment for 2017 property taxes, and a Dec 2017 payment (I prepaid) for 2018 property taxes, on my 2017 return?

Yes you can deduct prepaid taxes (2018 taxes paid in 2017) if you have the 2018 tax bill for the property taxes owed. 

If you do not have a 2018 tax bill then your prepaid 2018 taxes will not be deductible on your 2017 tax return.

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3 Replies
KarenJ
Intuit Alumni

Can I deduct both a Feb 2017 payment for 2017 property taxes, and a Dec 2017 payment (I prepaid) for 2018 property taxes, on my 2017 return?

Yes you can deduct prepaid taxes (2018 taxes paid in 2017) if you have the 2018 tax bill for the property taxes owed. 

If you do not have a 2018 tax bill then your prepaid 2018 taxes will not be deductible on your 2017 tax return.

Pimbley
New Member

Can I deduct both a Feb 2017 payment for 2017 property taxes, and a Dec 2017 payment (I prepaid) for 2018 property taxes, on my 2017 return?

Thx Karen but have to check: IRS says prepaid 2018 taxes are deductible on 2017 return if the taxes are assessed and paid in 2017 (as mine were) - makes no mention of a bill being required? I'm also checking that both 2017 and 2018 taxes can be deducted on the 2017 return.
KarenJ
Intuit Alumni

Can I deduct both a Feb 2017 payment for 2017 property taxes, and a Dec 2017 payment (I prepaid) for 2018 property taxes, on my 2017 return?

Thank you for your comment.  You are correct , only needs to be assessed and paid in 2017.

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