Property tax
The house we live in is located in Palos Heights. My husband purchased it three years before we got married.
Two and a half years ago I inherited my Uncle’s house in Joliet. I have been paying the property taxes on since that time. Can I claim both properties and taxes on my income tax, or just the taxes on the Palos Heights home?
Terry Says
State and local tax deductions are limited to $10,000 PER RETURN. But you can add up all the property taxes you pay on all homes you own. Rental property is treated differently.
The SALT deduction allows taxpayers to deduct state and local taxes paid from their federally taxable income, however the 2017 Tax Cuts and Jobs Act (TCJA) capped the deduction at $10,000 per year through 2025.
Consult your tax preparer on your own situation.
