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juanchito29
New Member

Should I prepay 2018 property taxes before EOY?

 
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SweetieJean
Level 15

Should I prepay 2018 property taxes before EOY?

Please see this. How much you save is based upon your actual tax situation, including whether you are subject to AMT, so run the numbers.

https://www.irs.gov/newsroom/irs-advisory-prepaid-real-property-taxes-may-be-deductible-in-2017-if-a... 

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3 Replies
ghost
Level 8

Should I prepay 2018 property taxes before EOY?

Ask your local tax authority if they allow it; some do and some do not. The IRS may not allow the deduction if your tax paid is not based on an actual tax assessment.
SweetieJean
Level 15

Should I prepay 2018 property taxes before EOY?

Please see this. How much you save is based upon your actual tax situation, including whether you are subject to AMT, so run the numbers.

https://www.irs.gov/newsroom/irs-advisory-prepaid-real-property-taxes-may-be-deductible-in-2017-if-a... 

MightyQuinn71
New Member

Should I prepay 2018 property taxes before EOY?

Just to clarify, there's no reason to prepay if you're subject to the AMT because SALT is put back into that calculation.  Is that correct or am I looking at this incorrectly?
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