turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

mahrjb
Returning Member

Property taxes

I sold my home in Colorado and bought a new home in Florida.  Which home is considered my main home?

I paid off my mortage on the home in Colordo and use the proceeds from the sale to pay cash for the home in 

Florida.  I received a 1098 for the mortgage on the home in Colorado.  How should I enter this in Turbotax?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Property taxes

Your main home is where you live most of the time.  It doesn't have anything to do with which is newer or cost more.

 

It also doesn't really matter in this case unless there are more facts you haven't told us.  You are allowed to deduct property taxes on all US property you own, whether it is your main home or a second home.  And you can deduct mortgage interest on your main home and one second home.  If you have three or more homes, you have to decide which two to deduct, but if you only owned two homes the interest on both is deductible and it probably doesn't make a difference which you designate as your main home. 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question