The tax bill does not affect tax year 2017 itemized deductions for property taxes. If you pay the taxes owed in 2018 in the 2017 calendar year then you can deduct those taxes on Form 1040 Schedule A as an itemized deduction.
To enter, edit or delete Property Taxes -
- Click on Federal Taxes
- Click on Deductions and Credits
- Click on I'll choose what I work on (if shown)
- Under Your Home
If paid through your lender
- On Mortgage Interest, Refinancing, and Insurance, click on the start or update button
If paid directly
- On Property Taxes, click on the start or update button
Or enter property tax in the Search/Find box located in the upper right of the program screen. Click on Jump to property tax
"Last week, according to media reports, state officials in New York received calls from residents asking to pay their 2018 state, local and property taxes before Jan. 1 in an effort to claim the higher amount of deductions before the Republican tax bill takes effect.
In response, the U.S. Treasury Department issued guidance over the weekend saying that any pre-payments for 2018 tax liabilities would not be deductible on federal tax bills."
What you stated was previous to the NEW tax bill. Is this a problem?
I did find many websites saying that pre-payment is being used by taxpayers in 2017. These three are just an example (all recent):
<a rel="nofollow" target="_blank" href="http://www.businessinsider.com/prepay-property-taxes-before-trump-tax-plan-passes-2017-12">http://ww...>
<a rel="nofollow" target="_blank" href="https://www.nytimes.com/2017/12/18/business/how-prepaying-state-and-local-taxes-could-save-you-money...>
<a rel="nofollow" target="_blank" href="http://www.dailyherald.com/news/20171218/with-deduction-changes-should-you-pay-next-property-taxes-n...>