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We paid Taxes on 2 Houses, the one we sold and the one we bought

can we deduct the taxes
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ColeenD3
Expert Alumni

We paid Taxes on 2 Houses, the one we sold and the one we bought

Do you mean real estate taxes? Yes. Both are deductible on Schedule A.

 

If you're a homeowner, your property taxes are entered in the Deductions & Credits section:

  1. Sign in and open your return if you're not already in it.
  2. Inside TurboTax, search for property tax and select the Jump to link at the top of your search results.
  3. Answer Yes to the question Did you pay property or real estate taxes in 2020?
  4. Enter your property/real estate taxes on the next screen.

We paid Taxes on 2 Houses, the one we sold and the one we bought

assuming you're referring to your personal residences, sure you can. be aware that the deduction for all forms of state taxes is limited to $10,000 and your itemized deductions must exceed your standard deduction. 

for rentals yes you can and there are no $ limits   

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