Will I still be able to deduct property taxes on my rental property under the new law if I already reach $10,000 SALT cap deduction through personal home property tax?
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1 Best answer
Hal_Al
Level 15
Jun 3, 2019 12:04:35 PM
Yes. The property tax on your rental property is deducted on Schedule E. It is directly related to the rental income and not part of the itemized persoanl deductions on schedule A. It's essentially a "business deduction"
2 Replies
SweetieJean
Level 15
Jun 3, 2019 12:04:34 PM
The "new law" has not yet been enacted.
Hal_Al
Level 15
Jun 3, 2019 12:04:35 PM
Yes. The property tax on your rental property is deducted on Schedule E. It is directly related to the rental income and not part of the itemized persoanl deductions on schedule A. It's essentially a "business deduction"