Can you show only property taxes and not state income taxes - Spidell

Can you show only property taxes and not state income taxes

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Message Board Can you show only property taxes and not state income taxes

This topic contains 2 replies, has 3 voices, and was last updated by William Dewberry 3 months, 2 weeks ago.

  • Author
    Posts
  • #173867
    Betsy Wilde
    Participant

    When you rent out part of your primary residence, are you able to take all the taxes between the Schedule A and Schedule E of property tax and not take any for state income taxes?

  • #174359
    Lynn Freer
    Participant

    $10,000 is the maximum

  • #174424
    William Dewberry
    Participant

    The answer is no, you deduct all allowable deductions, which include real estate taxes and state income taxes.
    You would allocate the real estate taxes between the rental / personal part, put the rental potion on sch E, the personal remainder on sch A, then also input the state income tax, as usual.