LEGAL GUIDE
Written by attorney Henry Daniel Lively | Sep 20, 2010

Can I deduct Property Taxes that I pay on Multiple Properties?

Can you deduct property taxes that you pay on multiple taxes on your federal income tax return? Yes, property taxes are deductible on your personal income tax return. They can be deductible on Schedule A or Schedule E depending on the type of property that you have.

On schedule A of Form 1040 you can deduct the property taxes that you pay for your principal residence and property taxes that you pay for your vacation home or second residence. This also includes that property taxes that you pay on a timeshare property.

On schedule E of Form 1040 you can deduct the property taxes that you pay on property that you rent. Each property is listed separately on schedule E and you include the property taxes that you pay by property.

If you incure a loss on your rental property they are passive losses per se and you will only be able to deduct these losses against other income if certain requirements that are beyond the scope of this legal guide are met.

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