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thepep
Returning Member

Foreign real estate tax deductible?

US citizen here.  I own an undeveloped parcel of land in the Bahamas that I may one day build on or may sell as is.  Is the annual real estate tax that I pay on this vacant land able to be included under the line "Foreign real estate taxes" for property taxes paid in 2021?

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2 Replies

Foreign real estate tax deductible?

You can not deduct foreign real estate taxes in your tax return. 

Foreign property (real estate) taxes aren't deductible in the tax year 2018 through 2025 due to the Tax Cuts and Jobs Act. In 2017. 

 

Click on the link for more information

 

Foreign Real Estate Taxes

thepep
Returning Member

Foreign real estate tax deductible?

Understood.  Why would the Turbotax program have that line option then?

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