Re: couple of tax questions ..

On Mar 30, 10:06 am, "Paul Thomas, CPA"
<paulthomascp...@xxxxxxxxxxxxx> wrote:
"asdf" <qjohnny2...@xxxxxxxxx> wrote

question - what about property tax that may be paid
in one year but is paid toward the next year.
Tax collected in 2006 but for 2007. Thanks.

Only tax paid by you, or from the escrow account, to the county/city gets
deductible. For the most part it doesn't matter what year you are paying.

--
Paul Thomas, CPA
paulthomascp...@xxxxxxxxxxxxx

Okay thanks. Just to double check - to itemize property tax 2006
you
must have paid the property tax in 2006. Meaning if you wrote
a check for property tax in Jan of 2007 that covered tax due from 2006
you would not put this on the 2006 tax return, but would put on the
2007
tax return.

Thanks.

.

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