Solved: Property Taxes
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
stevek
Level 2

Property Taxes

Is there an order for entering property tax information in TurboTax to receive the maximum deduction? We file a joint return (married filing jointly) with one of us self-employed (1099 income) and the other W2 income. We do write off a home office for the self-employed spouse and itemize expenses (take a portion of the property taxes associated with the home office). The home office is not a separate building.

 

Thanks, Steve

2 Best answer

Accepted Solutions
MinhT1
Expert Alumni

Property Taxes

If you deduct a home office for the self-employed spouse and choose to deduct actual costs, you prorate property taxes between the home office and the rest of the home (according to square footage).

 

You then deduct the home office portion in the home office deduction and deduct the balance in the personal section of your tax return under Deductions and Credits.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

AnnetteB6
Employee Tax Expert

Property Taxes

Yes, that's the correct way to do it.  The personal portion of the real estate taxes should be carried to the Schedule A for itemized deductions. 

 

If you go through the property taxes section in Deductions and Credits, there should be information on the screen that will tell you how much has been included automatically in the itemized deductions section of your return.  You should not enter the amount in both places (home office and property tax deduction).

 

@stevek

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

3 Replies
MinhT1
Expert Alumni

Property Taxes

If you deduct a home office for the self-employed spouse and choose to deduct actual costs, you prorate property taxes between the home office and the rest of the home (according to square footage).

 

You then deduct the home office portion in the home office deduction and deduct the balance in the personal section of your tax return under Deductions and Credits.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

stevek
Level 2

Property Taxes

Thanks for the info. We just entered, on the home office menu in TurboTax Home and Business (Windows version) the "Entire home real estate taxes" and let the program determine the portion of those taxes that should be applied to the home office business expense. Hopefully that was the correct way to do it!

 

Steve

AnnetteB6
Employee Tax Expert

Property Taxes

Yes, that's the correct way to do it.  The personal portion of the real estate taxes should be carried to the Schedule A for itemized deductions. 

 

If you go through the property taxes section in Deductions and Credits, there should be information on the screen that will tell you how much has been included automatically in the itemized deductions section of your return.  You should not enter the amount in both places (home office and property tax deduction).

 

@stevek

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

v
Privacy Settings