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I chose to pay my 2017 property taxes in installments. Can I claim the amount that I paid this year (2018) since it is going towards 2017's property taxes?
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posted
June 6, 2019
10:37 AM
last updated
June 06, 2019
10:37 AM
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I chose to pay my 2017 property taxes in installments. Can I claim the amount that I paid this year (2018) since it is going towards 2017's property taxes?
No, you cannot.
If you're a cash-basis taxpayer (as most of us are), you can take expenses only in the year that you paid them. In your case, you'll be able to take those property taxes next year, assuming everything stays the same.
June 6, 2019
10:37 AM
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I chose to pay my 2017 property taxes in installments. Can I claim the amount that I paid this year (2018) since it is going towards 2017's property taxes?
No, you cannot.
If you're a cash-basis taxpayer (as most of us are), you can take expenses only in the year that you paid them. In your case, you'll be able to take those property taxes next year, assuming everything stays the same.
June 6, 2019
10:37 AM
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