Comments on: $500 Or $1,000 Property Tax Deduction for People Who Don’t Itemize Deductions

By: ZaZa

ZaZa — Sat, 13 Mar 2010 15:10:17 +0000

Thanks for the info! I didn’t know it until I read your article. Now my question is, I didn’t claim this tax deduction for year 2008. Is there a way I can reclaim it and have my money back?

Thanks!

By: TFB

TFB — Sun, 07 Mar 2010 02:52:06 +0000

David – It doesn’t matter whose name is on the mortgage. The key question is how much property tax each of you pays. And it’s not what you pay into escrow. You have to find out how much the escrow account paid out to the tax collector during the year and divide up that amount between the two of you.

By: david

david — Sun, 07 Mar 2010 01:02:41 +0000

My fiance and I bought a home in 2009. We are obviously filing separately since we are not yet married. The mortgage is entirely in my name. However, we are both on the deed to the home. Our property taxes are paid in escrow. I am itemizing, and she is taking the standard deduction. Can she get the $500 deduction since both our names are on the deed to the house, even though I am the only name on the mortgage (which pays our prop. tax through escrow)?

I know this is similar to JT’s question (#11), however it sounds like both he and his partner are on the mortgage possibly.

Thanks

By: Doris

Doris — Tue, 09 Feb 2010 21:33:28 +0000

we claimed our daughter she is 17
she worked with income of 2700.00
they withheld federal income tax of 123.00
should I file a return for her to get this back if so we claimed her so waht does she file herself as?

By: TFB

TFB — Tue, 09 Feb 2010 21:20:49 +0000

Doris - See specific instructions for Schedule L, line 7, on page 166 of 2009 Form 1040 Instructions for what counts and what doesn't count.

By: Doris

Doris — Tue, 09 Feb 2010 20:59:09 +0000

can you tell me exactly what I can take from the real property tax statement is it the GORSS TAX amount or the NET TAX ans ASSSSMENT amount/
Or maybejust hte state of WA general fund amount?

By: Brendan

Brendan — Mon, 08 Feb 2010 17:10:14 +0000

I filed 2009 taxes electronically and ended up with $500 extra beyond what I claimed for a tax return. I used turbotax and it did not catch any “mistake”. It seems that this property tax break could account for that.

By: TFB

TFB — Sun, 07 Feb 2010 04:27:12 +0000

cph - Yes, just follow the instructions on Schedule L. It doesn't matter which year the property tax is for as long as it was PAID in 2009.

By: cph

cph — Sun, 07 Feb 2010 03:08:16 +0000

My 2008 Tennessee property taxes were due by 2/28/2009. I paid them a few days before the due date. I file a joint return with my wife. Can I add $1000 to my standard deduction on my 2009 tax return?

By: TFB

TFB — Wed, 03 Feb 2010 01:57:14 +0000

Alyssa and Allison – If you paid property tax in 2009, it doesn’t matter if you paid at closing or if you paid separately. Fill out Schedule L to calculate your standard deduction.

archy – If you also filled out lines 7-9 on Schedule L, that extra $500 is for the property tax deduction I wrote about here.