robert1
Level 1
‎12-06-2019 09:18 PM
 
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PhoebeRoberts
Level 11
Level 11
‎12-06-2019 09:18 PM

Annette Nellen opines that real estate taxes on investment property (property held for the production of income) deductible under IRC 212 go on Line 6, which excludes them from the $10K SALT limitation. Cite is IRC 164(b)(6). Comments from other preparers recommend disclosure on Form 8275.

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abctax55
Level 15
‎12-06-2019 09:18 PM
I've been following that discussion on a different list-serve.  I haven't formed an opinion, yet.
HumanKind... Be Both
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IRonMaN
Level 15
‎12-06-2019 09:18 PM

That was such a good question that you had to ask twice?


Slava Ukraini!
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abctax55
Level 15
‎12-06-2019 09:18 PM
Ha ha....I said the same thing in the other one, and I closed it.
HumanKind... Be Both
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IRonMaN
Level 15
‎12-06-2019 09:18 PM
I'm hoping Robert is doing homework rather than preparing tax returns.  :pray::pray:

Slava Ukraini!
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George4Tacks
Level 15
‎12-06-2019 09:18 PM

When in doubt, read the instructions https://www.irs.gov/pub/irs-pdf/i1040sca.pdf If you are still confused wait for Phoebe to throw in another wonderfully intriguing twist. 


Answers are easy. Questions are hard!
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abctax55
Level 15
‎12-06-2019 09:18 PM

I generally only deduct the ones that were actually PAID during the year. 

HumanKind... Be Both
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