It's tax time. Usually straightforward. This year; maybe not.
Short background. My property taxes and state taxes total over $21K. So given that I'm losing over half of my usual deduction in the new tax law, I prepaid my property taxes in 2017. I did this before the IRS issued guidance of this section of the new tax law--in a nutshell--that 2018 property taxes may only be prepaid in the case that assessments had been made prior to Jan 1, 2018 and that the municipality would accept them. My municipality did accept them. And as mentioned I did get a receipt dated before the guidance was issued. My municipality, however, had not assessed for 2018 (incidentally, it just did this week back dated to Jan 1 2018).
My question for those in a similar situation: (prepaid property taxes, paid before guidance issued, muni did not assess). Are you going to go ahead and deduct your property taxes for 2018 that you prepaid in 2017?
Thanks!