tax deductions - Posted by cman

Posted by Steve Avis, CPA on March 15, 2002 at 01:49:37:


You can deduct the back taxes on your 2001 federal tax return IF you paid those back taxes in year 2001.

It makes no difference what year the taxes are for - only that the taxes were paid in 2001.


tax deductions - Posted by cman

Posted by cman on March 14, 2002 at 08:56:31:

My questions is the following:
I purchased a vacant lot by way of a quit claim deed. There were back taxes due for several yrs. Can I deduct the back taxes of the property on my taxes? Or am I only allowed to deduct the current yr taxes?

Thanks in advance for yor answers.