Standard deduction + real estate taxes?

Toby Women: It depends what tax year the property taxes were for and how much credit you got, if any, from the previous owner. In some states, property taxes are paid in the same tax year they are for.But in my state, property taxes are paid the following year. So when I bought my home in May 2002, I got credit from seller for all 2001 tax due in 2002 and part of estimated 2002 tax due in 2003. 2004 was the first year that I had to pay all of property taxes for 2003.Note that you cannot deduct what you pay "into" tax escrow. You can only deduct property tax that you are liable for that was actually paid (when paid "from" escrow). If you do not have escrow it is whenever you pay it. In any case, you have to use up any credit towards taxes from the seller before you can deduct it....Show more

Toby Women: You can take standard deduction plus up to $1,000 in real estate taxes or itemized deductions whichever is more.

Pasty Cobbett: If you filed a joint retu! rn, that was fine. The limit for taxes to be added to the std deduction was up to $1000 on a joint return, $500 otherwise.

Joni Ziak: Sorry, yet no. the availability to extend the time-honored deduction to account for actual assets taxes expired. the only thank you to deduct actual assets taxes is to itemize deductions on schedule A.