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RoRasc
Returning Member

second home tax deduction

I got married last year.  I own a home and my husband and I own a second home together.  My home has a mortgage and I was able to enter the mortgage information (taxes, interest, etc) into Turbo Tax Premier (desktop version).  However, the home my husband and I own together does not have a mortgage.  Where can I enter the taxes we paid on this home in TurboTax Premier desktop version?  Is it possible to itemize the taxes on this home as well?

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5 Replies

second home tax deduction

You can enter the property tax on the second home---but do remember that you are subject to the cap of $10,000 for the deduction---no more than that even on the combination of the two homes.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
RoRasc
Returning Member

second home tax deduction

Do you know Where in Turbo Tax Premier I would enter it?  I cant figure out where to put it into the program.  Thanks for your help.

second home tax deduction

Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and loan origination fees (“points”) that you paid in 2023.  

 

 

In other words----the same section that you used for the first home.   

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
RoRasc
Returning Member

second home tax deduction

When I go back to the section indicated, its greyed out.  When I click on property taxes, it does not allow me to adjust it.  When i first entered the tax amount, it asked for the lender, but my 2nd home is paid off.  How would I enter it?

rjs
Level 15
Level 15

second home tax deduction

On the Deductions & Credits screen, under Your Home, click the Start or Update button for Property Taxes. It's the second topic under Your Home.

 

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