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

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9
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2
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Cathy Lippert
  • Cleveland/Akron Area
2
Votes |
9
Posts

Pay Real Estate tax on to-be rental before Dec 31?

Cathy Lippert
  • Cleveland/Akron Area
Posted

Hi, Forgive me if the answer was posted somewhere else (could not find it).  My husband and I own 4 houses, one of which is our primary residence as of Sept 15, 2016.  The one we moved out of is being prepared for rental. And the third one is also in rehab. Both of these houses will be rented in the spring.  (4th is already rented and not relevant to the discussion).   I am trying to decide which of the real estate taxes for the two rental houses in question I should pay before Dec 31.  At some point (after the houses are rented in 2017), those taxes will count as expenses for the rentals if I wait until January to pay them.  If I pay them this year, can I count them as property tax deductions on my personal income?  In essence, I need to decide whether to wait until January, or pay before Dec 31.  Please help!  Thanks!

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