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New Member
posted Feb 6, 2021 7:42:26 AM

I have a payment arrangement for 2020 property tax on the home I own. The payments are to be complete by June 2021. Do I still claim the 2020 home taxes on this return?

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1 Best answer
Expert Alumni
Feb 6, 2021 7:57:08 AM

No, do not claim a deduction for property taxes that you haven't paid yet. Deduct property tax payments in the year that you make them.

 

Individuals such as yourself are cash-basis taxpayers; you only report income you have actually received and can only deduct expenses that you have actually paid.

1 Replies
Expert Alumni
Feb 6, 2021 7:57:08 AM

No, do not claim a deduction for property taxes that you haven't paid yet. Deduct property tax payments in the year that you make them.

 

Individuals such as yourself are cash-basis taxpayers; you only report income you have actually received and can only deduct expenses that you have actually paid.