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Updated over 9 years ago on . Most recent reply presented by

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Dean Harrison
  • Investor
  • Dixon, IL
0
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2
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Tax question regarding Property Taxes

Dean Harrison
  • Investor
  • Dixon, IL
Posted

My partner and I recently closed on a buy and hold rental.  In the closing, we were credited with the 2015 property taxes due later this year as well as the pro rated 2016 taxes.  All that is fine and good.  My question revolves around my federal/state tax return I will file next year.  Can I claim the full 2015 taxes and the pro rated 2016 taxes?   

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885
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359
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Jeremy Pace
  • Contractor
  • Pittsburgh, PA
359
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885
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Jeremy Pace
  • Contractor
  • Pittsburgh, PA
Replied

@Dean Harrison you can claim anything you want, but it's probably a safer idea to claim what you paid.

Also, did you buy or sell the rental?  The ambiguity made it a little tougher to answer the question off the cuff.

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