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nonnaj918
New Member

I pay both property taxes and school taxes. Are they both deductible or only the property taxes?

 
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9 Replies
JohnR1
New Member

I pay both property taxes and school taxes. Are they both deductible or only the property taxes?

Real estate taxes (property taxes) paid on your primary residence are deductible as an itemized deduction on Schedule A of your federal return.

If a real estate taxes paid amount was reported to you (usually in Box 10 on your Form 1098), this represents the amount of real estate taxes you paid on your residence during the tax year.  This is the amount which should be included on your federal income tax return, on Form 1040 Schedule A, Itemized Deductions, Line 6, (Real estate taxes), if you itemize your deductions.

Here's how to enter real estate taxes paid in TurboTax:

  • In your return, click on Federal Taxes tab
  • Click on Deductions & Credits
  • Under Your tax breaks, select Edit/Add button for “Property Taxes”

On “Enter the Property Taxes You Paid”, enter the amount of real estate taxes paid on the home in the "Your Main Home” box, per the Form 1098 Box 10, or from whatever source you received the real estate taxes paid amount.

 

atmahan
New Member

I pay both property taxes and school taxes. Are they both deductible or only the property taxes?

Didn't answer school taxes question

DawnC
Expert Alumni

I pay both property taxes and school taxes. Are they both deductible or only the property taxes?

You can go back through your state tax return and correct any answers you skipped.   TurboTax will flag missing entries when you Review your tax return before filing.  @atmahan 

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I pay both property taxes and school taxes. Are they both deductible or only the property taxes?

This quest has not been answered.  My question is for the state of NY where we have both a property tax for local and a school tax for the school system.  The school tax is also based on the property value, so is a property tax.

Are the two deductible?

SusanY1
Expert Alumni

I pay both property taxes and school taxes. Are they both deductible or only the property taxes?

Yes, New York school taxes can be included in the amounts entered for property tax deductions for your federal return.  

@JRLTHOMP 

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Voidsong
New Member

I pay both property taxes and school taxes. Are they both deductible or only the property taxes?

What if the property taxes and school taxes were not reported on my form 1098? Can I still deduct them?

PatriciaV
Expert Alumni

I pay both property taxes and school taxes. Are they both deductible or only the property taxes?

If your real estate taxes (property and/or school) are based on the assessed value of your property and you paid the taxes during the calendar year, you can report this expense even if it wasn't included on Form 1098.

 

Generally, Form 1098 only reports taxes that are paid from an escrow account you have with the lender.

 

@Voidsong

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canon0921
New Member

I pay both property taxes and school taxes. Are they both deductible or only the property taxes?

Yes what is the total answer?  I have no mortgage but pay property and school tax, so there is no escrow account.  Per your answer i can just add the school tax to the property tax amount on Schedule A....  Correct?

DaveF1006
Expert Alumni

I pay both property taxes and school taxes. Are they both deductible or only the property taxes?

Yes, you may do this. 

 

@canon0921 

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