Real estate taxes on a flip home

[kdpalmer]

I paid taxes this year on a house I bought to flip. I also paid back taxes on the property. Do I include these taxes that I paid in 2016 on my tax return, or will they come off the as part of the investment cost when I sell in the home in 2017?

[Marketstar]

You should deduct all property tax paid on all property you own in the year paid.

However to benefit from a property tax deduction, you must itemize expenses.

To enter property tax paid.

• Type in property tax deduction in the search box, top right of your screen, then click the magnifying glass

• Click the jump to property tax deduction link in the search results.

• Follow the onscreen instructions to enter