Prepayment of 2018 Real Estate Tax
December 28, 2017 By BGH Staff Member
- The IRS said Wednesday that people may be able to deduct their 2018 state and local property taxes only if they were assessed and paid during 2017.
- People can only deduct prepaid property taxes that have already been assessed by local governments.
- Prepayments of anticipated property taxes will not be deductible.