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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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JohnW15
Intuit Alumni

Can I deduct property taxes as a farm expense when I have 80 agricultural acres but also live in a home on the land?

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.

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JohnW15
Intuit Alumni

Can I deduct property taxes as a farm expense when I have 80 agricultural acres but also live in a home on the land?

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.

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