You'll need to sign in or create an account to connect with an expert.
Answer Yes. If you bought a house during the previous tax year, you may use the property tax on that house to figure your credit - providing you figure only that portion of your taxes that pertains to the time you owned and lived at the property during the tax year. For example, if you purchased and began living in a house in October 2016, you may
use an amount equal to three months of your total 2016 property tax to figure your 2017 property tax credit.
You may not use the property tax paid on a house you bought in 2017 on your 2017 return. The seller was liable for the tax and will take the property tax credit.
http://www.revenue.state.il.us/Publications/Pubs/Pub-108.pdf
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
rich-trout27
New Member
user17765144402
New Member
scmori
New Member
Dazonvashon
Returning Member
Redbow
New Member