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second home tax deduction
I got married last year. I own a home and my husband and I own a second home together. My home has a mortgage and I was able to enter the mortgage information (taxes, interest, etc) into Turbo Tax Premier (desktop version). However, the home my husband and I own together does not have a mortgage. Where can I enter the taxes we paid on this home in TurboTax Premier desktop version? Is it possible to itemize the taxes on this home as well?
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second home tax deduction
You can enter the property tax on the second home---but do remember that you are subject to the cap of $10,000 for the deduction---no more than that even on the combination of the two homes.
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second home tax deduction
Do you know Where in Turbo Tax Premier I would enter it? I cant figure out where to put it into the program. Thanks for your help.
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second home tax deduction
Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and loan origination fees (“points”) that you paid in 2023.
In other words----the same section that you used for the first home.
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second home tax deduction
When I go back to the section indicated, its greyed out. When I click on property taxes, it does not allow me to adjust it. When i first entered the tax amount, it asked for the lender, but my 2nd home is paid off. How would I enter it?
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second home tax deduction
On the Deductions & Credits screen, under Your Home, click the Start or Update button for Property Taxes. It's the second topic under Your Home.
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