Legal Question in Tax Law in Wisconsin

Real Estate Tax Deductions

Hi. Do I have to pay my real estate taxes by Dec 31st of 2007 in order to deduct them from my 2007 federal and state tax returns? If the tax bill is for the year 2007, but I pay it in 2008 (by Jan. 31st), can't I still deduct it as long as I don't also try to deduct taxes that were for 2006 that were paid in 2007?


Asked on 1/06/08, 8:16 am

1 Answer from Attorneys
Thomas Schober Schober Schober & Mitchell, S.C.

Re: Real Estate Tax Deductions

Real estate taxes are only deductible in the year in which they are paid.

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Answered on 1/06/08, 9:46 pm


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