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08-22-2007, 04:05 PM
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Senior Member
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Join Date: May 2007
425 posts, read 356,487 times
Reputation: 89
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Quote:
Originally Posted by acnemaster
I have a question about property taxes. Are property taxes tax dedctible? I thought it was only interest on your mortage that was tax deductible. I own property but don't live there yet. I am building in a year and my property taxes are minimal because it is vacant land. However, when I did my income taxes last year I remember my tax preparer saying that the mortgage interest was tax deductible. I don't recall the property taxes being tax deductible.
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Yes, if you itemize. |
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