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lshamson
New Member

Is interest for late payment of property tax deductible

We forgot to pay our property taxes so were charged interest on the late payment.

1 Reply
ChelsiE2
New Member

Is interest for late payment of property tax deductible

Unfortunately, the IRS will not allow you to deduct the interest or penalties associated with the late payment of your property taxes.  Only the actual amount of tax assessed on the property will be deductible.

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