[waitspring]

Hello,

The Becker 2015 page R2-21 said:

Real Estate tax, Income tax, Personal property tax and sale tax are deductible. But business and rental property taxes are not deductible.

What is the business and rental property taxes? I checked the schedule E, line 16 is “tax”, it doesn’t mention any nondeductible tax in this schedule.

Thank you for your time and advise in advance!

Anna

[ibCPAsoon]

It's a little confusing out of context – make sure to watch the lecture.

This section is Covering Schedule A for itemized deductions.

It is mentioned that these are NONDEDUCTIBLE for Schedule A purposes BUT Business taxes would be deducted on Schedule C and Rental Property Taxes deducted on Schedule E.

The word usage and location is a little confusing…they are deductible…just NOT on Schedule A and the parentheses indicate where you should deduct.

Follow?

BEC - PASS JULY 2014
FAR - PASS DEC 2014
AUD - PASS FEB 2015
REG - PASS MAY 2015

[Author]

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