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Level 5
March 16, 2024
Question

School Taxes

  • March 16, 2024
  • 1 reply
  • 12 views

Can school taxes be expenses on a Schedule E rental property?  For example, a Florida client has a rental house in New York.  They paid real estate taxes for the house, as well as a "school tax".  Does anyone know if school taxes can be expensed like the property taxes?

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1 reply

taxiowa
Level 8
March 16, 2024

If it an ordinary and necessary tax in order to own and operate a rental property in NY then yes.  If it was an optional tax payment for someones schooling then no.