I think the title says it all. Any info would be greatly appreciated. Thanks

Yes.

Any property taxes are deductible. But if you paid cash, there is no interest to deduct.

Agreed, "tax deductible" means you had expenses related to home ownership that qualifies as a deduction against your income in any given year.

So this year, you can deduct the expenses you DID have, but not the ones you didn't.

TAX PLANNING TIP: People often mistakenly think that they HAVE to have a mortgage to get the tax deduction benefit, but that's usually just logic for people that don't do math well.

For example, someone in the 20% tax bracket who paid $10,000 in mortgage interest to a bank won't have to send $2000 to IRS. Fine.

But with no mortgage, I WOULD write a check to IRS for $2000, but since I didn't send $10,000 to the bank, I'm still $8000 ahead. Now that's math I can live with!

Hello DJ:

Your home isn't tax deductible whether you paid cash or not. As noted, OTHER expenses related to home ownership MAY be deductible but, your house isn't.

excon

All good points!