You'll need to sign in or create an account to connect with an expert.
The short answer is Yes. The IRS differentiates "Real Estate" from "Personal Property" and, referring to the 2016 Schedule A instructions (https://www.irs.gov/pub/irs-pdf/i1040sca.pdf) pages 6-7, the itemized deduction related to taxes combines state and local income taxes paid during 2016 (or, alternatively sales taxes paid in 2016) with (a) the portion of the property tax that is based on the valuation of the real estate (flat fees excluded) and (b) the portion of motor vehicle, etc. registration that is based on the valuation of the item.
The short answer is Yes. The IRS differentiates "Real Estate" from "Personal Property" and, referring to the 2016 Schedule A instructions (https://www.irs.gov/pub/irs-pdf/i1040sca.pdf) pages 6-7, the itemized deduction related to taxes combines state and local income taxes paid during 2016 (or, alternatively sales taxes paid in 2016) with (a) the portion of the property tax that is based on the valuation of the real estate (flat fees excluded) and (b) the portion of motor vehicle, etc. registration that is based on the valuation of the item.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
chatman61
New Member
ddranalli
Returning Member
Sunny-641
New Member
art862
New Member
smlucio
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.