How to include escrow refund

Forum|Forum|7 years ago
June 1, 2019
1 reply
7 views

I put in all information for my 2016 mortgage interest etc.. However I sold my house mid year and got an escrow refund where do i add that?

TurboTax Premier Online

Best answer by PaulaM

You don't include amounts in escrow that were refunded to you on your tax return.

This is just an amount the lender's collect to make payments on your behalf. Lenders often collect more than what is needed to pay your insurance and property taxes.

This is a cushion in order to meet the fluctuations that occur year to year for your tax and insurance bill.

http://finance.zacks.com/claim-escrow-surplus-check-taxes-6151.html

PaulaM

Answer

Alumni - Expert

You don't include amounts in escrow that were refunded to you on your tax return.

This is just an amount the lender's collect to make payments on your behalf. Lenders often collect more than what is needed to pay your insurance and property taxes.

This is a cushion in order to meet the fluctuations that occur year to year for your tax and insurance bill.

http://finance.zacks.com/claim-escrow-surplus-check-taxes-6151.html

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