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Updated over 7 years ago on . Most recent reply presented by

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Joe Moore
  • Rental Property Investor
  • Los Angeles, CA
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Property Tax Deductions

Joe Moore
  • Rental Property Investor
  • Los Angeles, CA
Posted

It is my  understanding that the new tax bill requires that in order to deduct 2017 property tax, it must be paid no later than December 31, 2017.  If paid next month in January which I always pay, I will not be allowed to deduct it from 2017 income taxes.  Any of you tax professional please reply.  Thanks.

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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
Replied
Originally posted by @Joe Moore:

It is my  understanding that the new tax bill requires that in order to deduct 2017 property tax, it must be paid no later than December 31, 2017.  If paid next month in January which I always pay, I will not be allowed to deduct it from 2017 income taxes.  Any of you tax professional please reply.  Thanks.

 Correct. And it is not from the new tax bill. It has always been the case.

  • Michael Plaks
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