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much-7579
New Member

Turbo knows of the property taxes on life estate (primary res) in NC for the 1098, but the mortgage for 2nd home in VA has a dif. value. Do we list NC taxes again as misc

 
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AmandaR1
New Member

Turbo knows of the property taxes on life estate (primary res) in NC for the 1098, but the mortgage for 2nd home in VA has a dif. value. Do we list NC taxes again as misc

You can enter all property taxes paid for the personal itemized deductions. This is unlike mortgage interest, which has the limitation of primary residence plus one additional home, and most deductions, which have limitations.

While property taxes reported on the 1098, will be entered with this form under mortgage interest, enter additional property taxes under: Federal Taxes >> Deductions & Credits >> Your Home >>  Property Taxes




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AmandaR1
New Member

Turbo knows of the property taxes on life estate (primary res) in NC for the 1098, but the mortgage for 2nd home in VA has a dif. value. Do we list NC taxes again as misc

You can enter all property taxes paid for the personal itemized deductions. This is unlike mortgage interest, which has the limitation of primary residence plus one additional home, and most deductions, which have limitations.

While property taxes reported on the 1098, will be entered with this form under mortgage interest, enter additional property taxes under: Federal Taxes >> Deductions & Credits >> Your Home >>  Property Taxes




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