What are examples of taxes paid that are input on Sch. A, Line 6?

Forum|Forum|6 years ago
December 7, 2019
4 replies
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Lacerte Tax

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Best answer by PhoebeRoberts

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.

PhoebeRoberts

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Intuit Community Champion

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.

abctax55

Level 15

I've been following that discussion on a different list-serve. I haven't formed an opinion, yet.

HumanKind... Be Both

IRonMaN

Level 15

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

Slava Ukraini!

abctax55

Level 15

Ha ha....I said the same thing in the other one, and I closed it.

HumanKind... Be Both

George4Tacks

Level 15

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!

abctax55

Level 15

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

HumanKind... Be Both

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