Real Estate taxes

[CatfishVT9]

Greetings. I recently bought a new home and paid property taxes for 2019 in April of this year.  Since they were for 2019, can I deduct them on my 2019 return? Or do I have to wait until next year to claim them? Thank you.

[xmasbaby0 · Accepted solution]

You paid the tax in 2020?  It goes on your 2020 tax return next year. When you enter property tax as a deduction, what matters is the year you PAID the tax, not what year they were "for."

[tagteam]

You will have to wait until next year when you file your 2020 income tax return since property taxes are deductible in the year in which they are actually paid.

See https://www.irs.gov/taxtopics/tc503

[Anonymous]

You deduct them in the year paid.   FYI - if you have an escrow a/c the payments you make into it are not deductible.  only in the year when money is taken out to pay the taxes do yo get a deduction.

also realize that if you bought your home in 2019, there might be a credit on it for the 2019 taxes for the period you did not own it.  this credit must be subtracted from your payment.  

[CatfishVT9]

That's what I figured.  Thanks everyone.