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NJ Anchor benefits fwhen you own 2 family house

If you own 2 family house and rent half of it , you take 50% deduction on schedule E FROM YOUR PROPERTY TAXES YOU PAID. If my taxes in 2023 were $8000 i deduct $4000 on my schedule E.

My Anchor payments $1500+$1500= $3000 i received both in 2023 for years 2019 and 2020.

Do i lower my tax deduction on sch E by $1500 SINCE I GOT $3000 in anchor payments?

i heard different opinions:

some say add 50% to your schedule E income???

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2 Replies

NJ Anchor benefits fwhen you own 2 family house

NJ Anchor benefits fwhen you own 2 family house

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@Dubostica 

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