Does paying property taxes increase your state tax return?
T The_Architect Well-Known Member Apr 11, 2006 13,422 2,034 113 Aug 14, 2008 #1 Does paying property taxes increase your state tax return?
brianhos Moderator Staff member Bookie SuperFanatic SuperFanatic T2 Jun 1, 2006 56,672 29,952 113 Trenchtown Aug 14, 2008 #2 I think federal, but I am not sure you can deduct them from state.
C cmiller24 Member Apr 11, 2006 33 1 8 Aug 14, 2008 #3 i believe you can write them off for you state taxes which would increase your return.
akclone Well-Known Member Bookie Nov 28, 2006 1,192 223 63 515 Aug 14, 2008 #4 Sch.A Itemized Deduction for both fed and state returns. Penalties and interest on late payments are not deductable.
Sch.A Itemized Deduction for both fed and state returns. Penalties and interest on late payments are not deductable.
T The_Architect Well-Known Member Apr 11, 2006 13,422 2,034 113 Aug 14, 2008 #5 Excellent, thanks for the info.
C Clonehomer Well-Known Member Apr 11, 2006 25,987 23,758 113 Aug 14, 2008 #6 Property taxes are, but you have to itemize deductions. It's not always beneficial to itemize rather than the standard deduction to look into it first.
Property taxes are, but you have to itemize deductions. It's not always beneficial to itemize rather than the standard deduction to look into it first.
