Ask Your Tax Question. Tax Experts Answer You ASAP.

(Not a Tax Question?)

I am purchasing a home in So. California. My property tax .
Sent to Tax Experts February 21 03:42 PM

I am purchasing a home in So. California. My property tax payments will be approx. $600 per month. I have been told I can get all that money back in a form of a tax credit from the IRS on my annual Federal Tax Return. Is this true? If not, do I get a tax credit anywhere, e.g. mortgage interest, home repair, etc... Optional Information: Westchester, California

Edited by Customer (name blocked for privacy) on February 21 2006 at 3:47 PM

Customer (name blocked for privacy)
Status:  Closed   Value: $10
Answer
February 21 4:29 PM (46 minutes and 45 seconds later)
         
THIS ANSWER IS LOCKED!
You can view this answer by clicking here to Register or Login and paying $3.
Christopher Phelps -- Certified Public Accountant (CPA) -- 100% Positive Feedback on 2667 Tax Accepts
CPA, CFP, PFS, Tax Practitioner 21 Years, Member AICPA/CSCPA Tax/Financial Planning Committee Member
Reply
February 21 4:38 PM (9 minutes and 31 seconds later)
         
What is MFJ? I am filing as married.
Customer (name blocked for privacy)
Answer
February 21 5:26 PM (47 minutes and 55 seconds later)
         
ACCEPTEDCheck Mark

Sorry. MFJ is married filing jointly. Accordingly, it would benefit you to itemize your deductions exceed $10,000.

Because it is impossible for me to identify and consider ALL the relevant facts, this advice is not intended or written to be used for the purpose of avoiding penalties, and cannot be used for that purpose.

Christopher Phelps -- Certified Public Accountant (CPA) -- 100% Positive Feedback on 2667 Tax Accepts
CPA, CFP, PFS, Tax Practitioner 21 Years, Member AICPA/CSCPA Tax/Financial Planning Committee Member
Think you can answer this question?
Login or Become an Expert

Related Answers

 

DISCLAIMER: You acknowledge that any information you may obtain from individuals you contact through use of the Just Answer service comes from those individuals, not from Just Answer!, and that Just Answer is not in any way responsible for any of the information these third parties may supply. The site and services are provided "as is" with no warranty and no representations are made regarding the qualification of an Expert. Responses and comments on Just Answer! are for general information and are not intended to substitute for informed professional advice (such as medical, legal, investment or accounting) and do not establish a professional-client relationship. Just Answer! is not intended or designed to address EMERGENCY QUESTIONS which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.

Just Answer! > Income Tax