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I pated cash for my new home can I deduct my property tax?

 
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2 Replies
JohnW222
Expert Alumni

I pated cash for my new home can I deduct my property tax?

Yes, you can, as long as the tax is based on the assessed value of the property, and the property is for your own personal use.

Please see the TurboTax Help article Can I deduct property (real estate) taxes?for more detail.

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Hal_Al
Level 15

I pated cash for my new home can I deduct my property tax?

It depends on what "can I deduct my property tax" means.

Yes, you are allowed to deduct  property, even if you don't have a mortgage.

 

But, you won't be able to get any benefit from  deducting your property taxes if all your itemized deductions are less than the standard deduction.  A general rule, especially under the new tax law,  is that people without mortgages seldom have enough itemized deductions to claim them.

 

In TurboTax, you can enter them all and let TT do the math

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