Tax Questions

[street]

If I pay the county taxes for an induvial, on some land that I don't own. Am I legally entitled to use that tax event as a tax deduction?

Trying to help out a friend, where he still owes from 2020.

 

[MichaelB]

If I pay the county taxes for an induvial, on some land that I don't own. Am I legally entitled to use that tax event as a tax deduction?

Trying to help out a friend, where he still owes from 2020.

No, only the owner of the property can take the deduction. Nice way to help out a friend, though.

 

[njhowie]

No, but since your friend owns it and would get the deduction, there's no reason he couldn't pay that pro-rated net amount to you. Or put another way, you would pay the tax amount less the tax benefit he would get.

 

[OldShooter]

You may also have to file a gift tax return; no tax to pay now, probably never unless your estate is large (Fed) or your state has an inheritance tax.