I bought a new home this year in cash. How do I enter that? Turbotax isn't giving me the option. It's assuming I have a mortgage?

[LW44]

Part of my closing costs included property taxes.

[SharonD007 · Accepted solution]

You don't need to enter a personal residence that you paid cash for on your tax return. To take the property tax deduction, you must have more itemized deduction than your standard deduction.

You can enter your property taxes for your personal residence, vacation home, and/or land in the Deductions and Credits section. Follow the steps below to enter your property taxes.

1. Open your tax return in TurboTax
2. Select Deductions & Credits
3. Scroll down to Your Home and select the down arrow
4. Select Start or Revisit by Real Estate Taxes
5. TurboTax will guide you through the screens to enter your property taxes.

For more information, refer to the TurboTax articles Where do I enter my real estate (property) taxes in TurboTax Online? and Claiming Property Taxes on Your Tax Return.

Review the following TurboTax articles to determine if there are additional items that you can deduct on your Schedule A.  20 Common Tax Deductions: Examples for Your Next Tax Return, What Are Itemized Tax Deductions?, and Standard Deduction vs. Itemized Deductions: Which Is Better?

If the home that you purchased is not your personal residence, reply back so we can give you guidance.