I had sold an investment property in 2022.

[j g]

I had owned the property for 27 years, paying property taxes every year. Can I deduct all these property taxes from the proceeds when I fill in "Proceeds" under the Turbo Tax Investment Sales dialogue boxes - as cost?

[rjs]

No. You have to deduct property tax on your tax return for each year that you pay it. You cannot deduct it from the proceeds of the sale.

If you have more questions about your sale of investment property, please indicate the nature of the property. Was it just land, a single-family home, a commercial building, etc.? Did you rent it out?