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#13
09-07-2003, 06:25 AM
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 Re: Property Tax deduction if Paid by Non-Owner dhensley wrote: - quote - > I am in AMT and State Property (Real Estate)tax is not
No. The tax is not imposed on him.> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#12
09-05-2003, 02:01 AM
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| Re: Property Tax deduction if Paid by Non-Owner dhc1[at]bigfoot.com (dhensley) wrote: - quote - > I am in AMT and State Property (Real Estate)tax is not
Nope. Own the property, pay the tax, take the deduction if> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? you can. Nobody else can take it for you. (There are some exceedingly rare cases of deductions being allowed for non-owners. They arise only in extraordinary situations, nothing like what you describe.) -- Chris Green << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#11
09-04-2003, 10:32 AM
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| Re: Property Tax deduction if Paid by Non-Owner "dhensley" <dhc1[at]bigfoot.com> wrote: - quote - > I am in AMT and State Property (Real Estate)tax is not
Neither one of you can deduct it. It is a gift. No gift tax would be due> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? for this amount. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#10
09-04-2003, 10:32 AM
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| Re: Property Tax deduction if Paid by Non-Owner "dhensley" <dhc1[at]bigfoot.com> wrote: - quote - > I am in AMT and State Property (Real Estate)tax is not
No.> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? -- David M. Woods, EA Boston, MA 02109 Postings here are general information only and not to be relied upon as advice. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#9
09-04-2003, 10:13 AM
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| Re: Property Tax deduction if Paid by Non-Owner dhensley wrote: - quote - > I am in AMT and State Property (Real Estate)tax is not
No.> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? sorry for the short form answer, but nothing more to say. Cheer$, Harlan Lunsford, EA in LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#8
09-04-2003, 10:13 AM
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| Re: Property Tax deduction if Paid by Non-Owner "dhensley" <dhc1[at]bigfoot.com> wrote - quote - > I am in AMT and State Property (Real Estate)tax is not
Not unless he is ~obligated~ to make the payment. So, can> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? the county collect the tax from him? If so, then yes. If not, then no. -- Paul A. Thomas, CPA taxman[at]negia.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#7
09-04-2003, 09:54 AM
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| Re: Property Tax deduction if Paid by Non-Owner dhensley wrote: - quote - > I am in AMT and State Property (Real Estate)tax is not
No.> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#6
09-04-2003, 09:35 AM
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| Re: Property Tax deduction if Paid by Non-Owner "dhensley" <dhc1[at]bigfoot.com> wrote: - quote - > I am in AMT and State Property (Real Estate)tax is not
No.> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? Don Rosenberg, EA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#5
09-04-2003, 09:16 AM
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| Re: Property Tax deduction if Paid by Non-Owner dhensley <dhc1[at]bigfoot.com> wrote: - quote - > I am in AMT and State Property (Real Estate)tax is not
Nope.> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#4
09-04-2003, 09:16 AM
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| Re: Property Tax deduction if Paid by Non-Owner dhc1[at]bigfoot.com (dhensley) writes: - quote - > I am in AMT and State Property (Real Estate)tax is not
No. One must both be liable for and pay the tax to have a> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? deduction. Phil Marti Topeka, KS << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
09-04-2003, 08:38 AM
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| Re: Property Tax deduction if Paid by Non-Owner - quote - > I am in AMT and State Property (Real Estate)tax is not
NO, the tax is not deductible to him unless he has a legal> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? obligation topay it. Hint: If this relationship is likely to continue you may want to have him or her buy a nominal share in the property. ASK counsel before you do all this to be sure you haven't triggered other landmines! << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
09-04-2003, 08:37 AM
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| Re: Property Tax deduction if Paid by Non-Owner - quote - > I am in AMT and State Property (Real Estate)tax is not
No.> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? Helen, EA in PA Member of The Tax Gang President, PA Society of Enrolled Agents Campaigning for NAEA Board of Directors - Looking for YOUR vote << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
09-04-2003, 08:37 AM
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| Re: Property Tax deduction if Paid by Non-Owner dhc1[at]bigfoot.com (dhensley) wrote: - quote - > I am in AMT and State Property (Real Estate)tax is not
NO> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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09-04-2003, 08:37 AM
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| Re: Property Tax deduction if Paid by Non-Owner "dhensley" <dhc1[at]bigfoot.com> wrote: - quote - > I am in AMT and State Property (Real Estate)tax is not
No> deductible. I a third party friend pays my property tax (as > a gift to me, under $10,000), may he deduct the property tax > payment on his federal return, even though he is not the > owner of the property? Jo << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
09-03-2003, 07:42 AM
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| Property Tax deduction if Paid by Non-Owner I am in AMT and State Property (Real Estate)tax is not deductible. I a third party friend pays my property tax (as a gift to me, under $10,000), may he deduct the property tax payment on his federal return, even though he is not the owner of the property? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| deduction, nonowner, paid, property, tax |
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