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In 2007, the tax assessment on my home increased AND ...

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In 2007, the tax assessment...
In 2007, the tax assessment on my home increased AND the borough made it retroactive to 2006. So I paid property taxes in 2007 related to 2006. Should I include the amount as part of my total 2007 real estate taxes paid, or should I amend my 2006 return to include the additional payment? (I think I include it in 2007, since that''s when the cash actually moved, but I want to be sure.) Thank you.
Submitted: 9 years ago.Category: Tax
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2/1/2008
Tax Professional: Guru_Guy, Lawyer (JD) replied 9 years ago
Guru_Guy
Guru_Guy, Lawyer (JD)
Category: Tax
Satisfied Customers: 2,418
Experience: I am a lawyer who understands tax law and finance.
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Hello,

Even if the taxes related to 2006, if they were actually paid in 2007, you should report them as a deduction on your 2007 taxes.

I hope this helps!
Guru_Guy
Guru_Guy, Lawyer (JD)
Category: Tax
Satisfied Customers: 2,418
Experience: I am a lawyer who understands tax law and finance.
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