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URL:  http://boards.fool.com/real-estate-tax-deduction-question-14311138.aspx

Subject:  Real Estate Tax Deduction Question Date:  2/9/2001  11:33 AM
Author:  DelMarsh2 Number:  46038 of 121482

Hey, first time home owner here with a question about how to deduct my real estate taxes.

I live in Oregon and my real estate tax runs on a fiscal year from 07/01/2000 to 06/30/2001 (which I assume is done because that's the date I purchased or an amazing coincidence).

Question: I paid $2,613.27 in real estate taxes and the amount was paid in 2000 (had to pay them upfront)... can I deduct the entire amount for 2000 taxes or do I have to split it and claim half this year and half next year (and then half of next years in 2001 and half in 2002... etc.)?

If I could deduct the entire amount I'd save about $522.66 in income taxes ($1,306.64 more taxable income at 31% fed 9% state) so you can imagine my interest in being able to deduct all! :)

Thanks!
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