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Updated 9 months ago,
1040 Tax Returns - What amounts do you use for Property Tax
When you guys are filing property tax amounts for rental properties, what figures do you use?
For example, let's say I am filing for 2023:
2022 -2023:
Installment 1: $5,200 Paid Nov 2022
Installment 2: $5,200 Paid April 2023
2023-2024
Installment 1: $5,500 Paid Nov 2023
Installment 2: $5,500 Paid April 2024
Are you guys using $5200 + $5500 or $5500 + $5500?
End of the day it's not a big deal but I am getting conflicting advice from different cpas.
Thanks,