Can I have two primary homes? How do I deduct Real Estate Taxes?

djheidlauf · ‎June 6, 2019

I bought a home in February in 2018 and moved in in May 2018. I still have my old home that has been vacant. How do I report my real estate taxes?

MinhT · ‎June 6, 2019

You can deduct property taxes paid on all properties you own if you itemize your deductions.

However, for 2018, the SALT (state and local taxes) deduction is limited to $10,000.

In TurboTax, you can enter Property taxes by following these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then on Deductions & Credits on top of the screen
Scroll down to All Tax breaks, locate the section Your Home and click on Show more
Click Start next to Property (real estate) taxes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

MinhT · ‎June 6, 2019

You can deduct property taxes paid on all properties you own if you itemize your deductions.

However, for 2018, the SALT (state and local taxes) deduction is limited to $10,000.

In TurboTax, you can enter Property taxes by following these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then on Deductions & Credits on top of the screen
Scroll down to All Tax breaks, locate the section Your Home and click on Show more
Click Start next to Property (real estate) taxes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.