How do I claim my personal property taxes for 2020

[DoninGA · Accepted solution]

If you paid the 2020 taxes in 2021 you can enter those taxes as an itemized deduction on your 2021 tax return.

If you paid the 2020 taxes in 2020 those would have to be entered on your 2020 tax return.  If you have already filed the 2020 tax return then you would have to amend the 2020 tax return to report the taxes paid.

[xmasbaby0]

Tax that you paid in 2020 has to be entered on a 2020 tax return---not on 2021.   If you did not enter it when you prepared your 2020 return you can amend 2020.

[Carl]

Be aware that "personal property taxes" and "real estate property taxes" are two different things entirely. Each gets reported differently and therefore entered in different areas.

Also, what year the tax you paid is for, (whichever it is) doesn't matter. So the fact you paid "for" 2020 is irrelevant. What matters for tax purposes is what tax year you actually "paid" the tax.

[cpi9]

Hi, I read your reply and just want to verify that if I paid my 2020 property taxes in 2021, and 1 installment of tax year 2019, also in 2021, I can add all of my 2021 payments together (less the interest fee) and claim that on the taxes this year since all of the payments I made, regardless of the year "for", were made in 2021? I can't find any information anywhere about this, only about the prior year, no further back.

[LeonardS]

Yes, you may claim your personal property tax only in the year you pay them.  It does not matter what year they are for and you are correct that any interest on back taxes can not be claimed as a deduction.  Individual taxpayers are generally considered to be on a cash basis for reporting deductions which means that you can only claim expenses in the year they were paid.