Did you end up deducting your prepaid property taxes for 2018?

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[Post New]04/01/2018 23:57
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Anonymous
I prepaid my 2018 taxes in 2017, but I'm afraid to put them on my tax return for this year. This article (https://www.washingtonpost.com/local/md-politics/tax-experts-prepaid-property-taxes-may-be-deductible-after-all/2018/01/22/bcfcd1d0-fc72-11e7-8f66-2df0b94bb98a_story.html?utm_term=.11f786ec409f) says:

"But he believes that the deduct-when-you-pay principle would still apply to homeowners who paid property taxes in 2017 to beat the new $10,000 cap on state and local tax deductions starting in 2018 — IRS guidance notwithstanding."

So, did you take the chance? I'm trying to decide what to do. I had sort of forgotten about it until I started doing my taxes. In past years i have sent them to an accountant, but I didn't get my sh*t together in time this year, so I can't really ask their opinion.
[Post New]04/02/2018 07:28
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Anonymous
Yes.
[Post New]04/02/2018 07:30
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Anonymous
yup
[Post New]04/02/2018 07:36
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Anonymous
What’s the worst that can happen? You’ll get a letter that you can’t do that and you will owe more. Just make sure you have ample savings to cover what you might owe.
[Post New]04/02/2018 08:10
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Anonymous
Anonymous wrote:What’s the worst that can happen? You’ll get a letter that you can’t do that and you will owe more. Just make sure you have ample savings to cover what you might owe.


I have had IRS penalties in the past. They hurt.
[Post New]04/02/2018 08:11
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Anonymous
Anybody have an their CPA give guidance that said it was okay?
[Post New]04/02/2018 08:15
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Anonymous
No. I ran the numbers both ways, and on the federal tax return there was no difference at all because of the AMT. There would have been about a $800 difference on the state taxes, but I'll still realize that next year, so there was really no reason to push it this year.
[Post New]04/02/2018 08:46
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Anonymous
Anonymous wrote:Yes.


I'm confused; are there DC-area jurisdictions in which 2018 taxes were assessed in 2017? Where? If you don't live in one, what justification are you using for this?
[Post New]04/02/2018 08:50
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Anonymous
No, my accountant says I can't. MoCo.
[Post New]04/02/2018 08:51
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Anonymous
Yes.
[Post New]04/02/2018 08:52
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Anonymous
My accountant said no and said I would not benefit anyway because I am subject to AMT. Virginia
[Post New]04/02/2018 08:55
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Anonymous
I will do so. The IRS guidance has zero statutory support as far as I can tell. The question should be whether you paid the taxes, not the assessment protocol for your jurisdiction.
[Post New]04/02/2018 09:01
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Anonymous
Yes. The District of Columbia says the I can.
[Post New]04/02/2018 09:01
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Anonymous
Anonymous wrote:I will do so. The IRS guidance has zero statutory support as far as I can tell. The question should be whether you paid the taxes, not the assessment protocol for your jurisdiction.


Unless you are willing to take IRS to court, I'd not question IRS's authority.
[Post New]04/02/2018 09:01
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Anonymous
Anonymous wrote:Yes. The District of Columbia says the I can.


Anyone know what Virginia and / or Alexandria say?
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