Can payment of previous owner's property tax lien at COE be deducted as income?

USA Discussion in 'Individuals' started by TaxCurious, Oct 12, 2016.

  1. TaxCurious


    Oct 12, 2016
    Likes Received:
    I am looking to buy an investment property with some property tax liens on it. For various reasons, I'd like to pay the liens off at Close of Escrow (rather than pay a higher price and have the current owner pay it off). I'm wondering if my payment of the previous owner's past taxes could be deducted as a business expense. Is that possible?

    TaxCurious, Oct 12, 2016
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