Taxes other than federal income, FICA, estate or gift tax generally are deductible. Included…
- Co-op owners can deduct their proportionate share of the building’s taxes.
- Foreign taxes, unless a credit is claimed.
- Personal property taxes.
- Real property taxes paid during the year. (This may be different from the amount paid into your escrow account. Your lender will advise you as to the amount to deduct.)
- State and local income taxes paid or applied during the year, including wage withholding, or state and local sales taxes.