Can I deduct double property tax payment: If I pay my 2014 bill in January 2015 and my 2015 in December 2015, and take standard deduction for this...

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Can I deduct double property tax payment: If I pay my 2014 bill in January 2015 and my 2015 in December 2015, and take standard deduction for this years tax? Joe M Wisconsin

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Jenny Muralidharan
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Randall Klein
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Randall Klein
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Since individual taxpayers are on on a cash accounting basis, you deduct your property tax in the year actually paid. So if you pay $2000 in January and 2100 in December of the same year (2015), you can deduct the full $4100 on the 2015 tax return.

If you paid zero in 2014, then you deduct nothing for property tax for that year.

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