Demolished Property

My rental property was demolished midway in 2009 by the city of Birmingham, AL. I still own the land. What is the tax treatment? I was not paid anything by the city for the value of the home.

Property Tax Canada

by Bruce
(Novi, Mi, 48374)

Can I claim property taxes for a home in canada?

Property Tax Deduction

Can you carry over this deduction if you didn't use it the year before?

Hello,

Thank you for your question.

Unfortunately you are not able to carry over your property tax deduction if you didn't use it before. You can only claim property taxes paid in the year they were paid.

Rental Property

by Josh
(San Diego, CA)

Last year a friend and I purchased a residential rental income property as tenants in common with each owning 50%. For federal income tax purposes, do we need to file a partnership tax return for the property or can we just each enter 50% of the revenue and expenses on our form 1040 schedule E?