Advertiser Disclosure

advertising disclaimer
Skip to main content
taxes man calculating

Are Real Estate Taxes Deductible?

Your real estate taxes might be deductible. Find out what you can deduct here.


[Updated: Feb 09, 2021 ] Sep 12, 2019 by Jean Folger

Get our 43-Page Guide to Real Estate Investing Today!

Real estate has long been the go-to investment for those looking to build long-term wealth for generations. Let us help you navigate this asset class by signing up for our comprehensive real estate investing guide.

SALT Deduction Type What It Is How to Find It
Property taxes Real estate taxes you paid on property you owned that wasn't for a business, including
• primary residences,
• vacation homes,
• co-op apartments,
• and land.
• Check Box 10 on IRS Form 1098 from your mortgage company.
• Review your tax bills and mortgage account statements.
• Visit your local tax assessor's website or office.
Personal property taxes Non-real estate property taxes based on the item's value (usually a car, RV, or boat). • Review your receipts.
• Check your credit card and bank statements for taxable purchases.
• Contact the dealership where you made the purchase.
State and local income taxes State and local income taxes that were withheld from your salary during the tax year. • Look in the "State" and "Local" boxes of Forms W-2, 1099-G, 1099-R, and 1099-MISC.
Prior year state and local income tax payments State and local income taxes you paid during the current tax year for a previous tax year. Don't include penalties and interest. • Review your tax receipts and records.
• Check with your tax accountant or CPA.
State and local estimated tax payments State and local estimated tax payments made during the current tax year, including any part of a prior year's refund credited to your current year's state or local income taxes. • Review your tax receipts and records.
• Check with your tax accountant or CPA.
State and local sales taxes State and local sales taxes you paid for items like food, clothing, medical supplies, cars, and boats. • Keep track of your actual expenses
• .Use the optional sales tax tables found at the end of the Schedule A Instructions.
• Use the IRS's sales tax deduction calculator.
Filing Status 2019 Standard Deduction
Married filing jointly $24,400
Married filing separately $12,200
Single $12,200
Head of household $18,350
2019 taxes taxforms

Click to enlarge

Getty Images
Schedule A tax form

Click to enlarge

Internal Revenue Service
Deduction Limit
Property and state and local income or sales taxes Up to $10,000 ($5,000 married filing separately)
Mortgage interest The interest you pay on the first $750,000 of mortgage debt ($375,000 married filing separately) if you took out a mortgage after Dec. 15, 2017
Medical and dental expenses Qualified medical expenses that exceed 10% of your adjusted gross income
Charitable contributions Donations can equal 60% of your adjusted gross income or 30% if you donate assets (e.g., stocks)
Casualty and theft losses In general, you can deduct losses that exceed 10% of your adjusted gross income, but they must be the result of a federally declared disaster

Got $1,000? The 10 Top Investments We’d Make Right Now

Our team of analysts agrees. These 10 real estate plays are the best ways to invest in real estate right now. By signing up to be a member of Real Estate Winners, you’ll get access to our 10 best ideas and new investment ideas every month. Find out how you can get started with Real Estate Winners by clicking here.