jt[at]atlasmiami.com wrote:

- quote -

Taxpayers are on a cash basis. Therefore you deduct the
property taxes on the tax return for the year that you paid
the taxes. (if 2006 then 2006 return).

Missy Doyle

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jt[at]atlasmiami.com wrote:

- quote -

You deduct taxes in the year you actually pay them (2006).
As you were delinquent, you also had to pay a penalty. You
can not deduct the penalty.

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jt[at]atlasmiami.com writes:

- quote -

Assuming you are -- like the vast, vast majority of
individual taxpayers -- a cash basis taxpayer, it's
deductible in the year paid.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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jt[at]atlasmiami.com posted:

- quote -

Deductions can be taken only in the year payment was
actually made. In your case, all property taxes should be
reported on your 2006 return, Schedule A, along with other
deductible items paid in 2006.

[Note: A check written and mailed on December 31 could be
included, even if not cashed until after January 1 of the
following year.]

Bill

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<jt[at]atlasmiami.com> wrote

- quote -

Property tax is deductible in the year paid, so report them
on Schedule A for 2006.

--
Paul Thomas, CPA
paulthomascpapc[at]bellsouth.net

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<jt[at]atlasmiami.com> wrote:

- quote -

Assuming you're a cash-basis taxpayer, you deduct on your
2006 return.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

jt[at]atlasmiami.com wrote:

- quote -

Deductible only in the year actually paid (but not late
penalties or interest).

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

In 2006, I paid my delinquent property taxes for the years
2003, 2004, & 2005. I have not yet filed my tax returns for
2003, 2004, or 2005. When filing these years' tax returns
should I deduct the property taxes in the year that they
were due or do I wait and deduct all three years property
taxes on my 2006 tax return which is the year that they were
paid?

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >