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

    TaxCurious

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    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?

    Thanks!
     
    TaxCurious, Oct 12, 2016
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