I paid the second installment of my property taxes late for 2014. They were due 2014, but I paid them in 2015.
Can I deduct them on my 2014 taxes, or do I need to wait until I file in 2015?
In other words, do you get the deduction based on when you pay the tax, or when the tax is assessed/incurred?
Edit: also, I assume penalties are not deductible?