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Get your taxes done using TurboTax
Do I report my share of the Real Estate Taxes and the mortgage interest included in that Seller's statement in the real estate tax and mortgage interest deductions of my return or are these items simply included as part of the sales expenses and fees reported for that sale? It is likely that the sales expenses and fees include the interest and taxes. However, you would need to look to verify that they are part of the total. If the sum of all the sales expenses and fees include the taxes and interest, then you would not add them in. If when you add up all the numbers on the sheet you are short by the taxes and interest, then you would need to add it in and claim the expense.
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March 8, 2023
9:36 AM