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New Member
posted Jan 26, 2024 5:57:10 AM

Can you tell me where I claim the 1300 dollars I Had taken out to use to pay my property taxes this year?

How do I get to claim this money on my taxes?

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2 Replies
Level 15
Jan 26, 2024 6:03:26 AM

You posted your question from a version of online Live software.  If you are really using that “Live” software you can get help from your “expert.”

You are posting from TurboTax Live.  You can arrange for the Live help you are paying the extra fee for with your questions from 5 a.m. to 9 p.m. Pacific time.

https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live

Expert Alumni
Jan 26, 2024 6:05:27 AM

Property taxes would be included as itemized expenses.  Itemized expenses include mortgage interest, state and local taxes and property taxes up to $10,000, medical expenses in excess of 7.5% of your AGI and casualty and losses in excess of 10% of you AGI with the first $100 not counting towards the loss.  Your health insurance and all medical expenses are only deductible for the amount that is over 7.5% of your AGI.  This means if your AGI is $50,000, then the amount that is over $3,750 is deductible.  

 

Then your total itemized expenses would need to be greater than your standard deduction below in order to benefit from your property taxes paid. 

 

The 2023 Standard Deductions are as follows:

  • Married Filing Joint (MFJ)              $27,700
  • Married Filing Separate (MFS)      $13,850
  • Head of Household (HOH)             $20,800 
  • Single                                                     $13,850                                

Blind and MFJ or MFS add $1,500

Single or HOH if blind add $1,850

 

To enter your property taxes select the following:

  • Federal
  • Deductions and Credits
  • Start next Property taxes
  • Enter your property taxes