How to include escrow refund

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?

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1 Best answer

Employee Tax Expert

May 31, 2019 11:06:13 PM

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

Employee Tax Expert

May 31, 2019 11:06:13 PM

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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How to include escrow refund