Knowledge system is not enabled for this account. Redirecting to LiveHelpNow...
No double benefit allowed. If any portion of property taxes paid on your principal residence was deducted as an expense on federal Schedule C, C-EZ, E or F, then that amount cannot also be deducted. See the following example.
Example: Jean used one room of her home for her business. She deducted $200 Indiana property tax as an expense on her federal Schedule C. She paid a total of $1,200 Indiana property tax on her home. Jean's deduction will be $1,000 ($1,200 minus the $200 deduction on federal Schedule C).