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New Member
posted Jun 3, 2019 10:46:59 AM

Do i qualify for property tax credit if i don't own a home?

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1 Best answer
New Member
Jun 3, 2019 10:47:00 AM

No. The IRS rule on property taxes, or "real estate taxes," is that only properties' legal owners can claim deductions for them. For example, adult children paying the property taxes for their parents' homes can't claim such tax payments on their own returns. The parent-homeowners of homes with property taxes paid by their adult children, though, can claim those tax payments. Since property taxes are billed to property owners only, the IRS allows only those owners to deduct such taxes.

Property Title Additions: People wishing to benefit from property tax deductions on homes they don't own but have paid taxes on have options. For one, parents can add their adult children to their homes' titles, giving them ownership rights. Some issues bear consideration, though, if your parents are adding you to their home's title. For one, gift taxes on parents apply when they add their children to their homes' titles, though there's also a lifetime $1 million gift tax exemption.

To enter property taxes, click on Where do I enter the property or real estate taxes I paid?


1 Replies
New Member
Jun 3, 2019 10:47:00 AM

No. The IRS rule on property taxes, or "real estate taxes," is that only properties' legal owners can claim deductions for them. For example, adult children paying the property taxes for their parents' homes can't claim such tax payments on their own returns. The parent-homeowners of homes with property taxes paid by their adult children, though, can claim those tax payments. Since property taxes are billed to property owners only, the IRS allows only those owners to deduct such taxes.

Property Title Additions: People wishing to benefit from property tax deductions on homes they don't own but have paid taxes on have options. For one, parents can add their adult children to their homes' titles, giving them ownership rights. Some issues bear consideration, though, if your parents are adding you to their home's title. For one, gift taxes on parents apply when they add their children to their homes' titles, though there's also a lifetime $1 million gift tax exemption.

To enter property taxes, click on Where do I enter the property or real estate taxes I paid?