Can I deduct property taxes as a farm expense when I have 80 agricultural acres but also live in a home on the land?
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1 Best answer
JohnW15
Intuit Alumni
Jun 4, 2019 1:28:11 PM
You can deduct the portion of the property tax attributable to your farmland as a farm expense. The property tax attributable to your home can be deductible as an itemized deduction.
1 Replies
JohnW15
Intuit Alumni
Jun 4, 2019 1:28:11 PM
You can deduct the portion of the property tax attributable to your farmland as a farm expense. The property tax attributable to your home can be deductible as an itemized deduction.