Second Home Taxes

Second Home Real Estate Taxes and real estate taxes on all your personal homes may be deducted on your income tax return if you are able to itemize deductions on Schedule A.  You should receive Form 1099s from all your lenders after the beginning of the next year which show your real estate taxes for the year, but you might obtain the information from your local or county government. Your second home tax deduction is deductible in full.

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When you sell a home, your share of the real estate taxes for your portion of the year may show up on the closing statement, with no other forms sent to you so don’t forget the tax deduction.