Hello,
I also received 2019 and 2020 Anchor payments in tax year 2023 - though I don't know how SALT applies in my situation. I was researching on how this should be reported on my federal return and glad I came across this thread.
In my findings, it was said that "Anchor payments will reduce the real-estate tax expense on federal returns" and therefore should not be considered income. If my real estate taxes are paid out of escrow and included on my 1098 (Mortgage Interest Statement) how would I reduce those real estate taxes by the Anchor payment? There would be a discrepancy by doing so as the revised number would not match taxes paid on the 1098.
https://www.njspotlightnews.org/2023/10/new-jersey-society-of-certified-public-accountants-anchor-au...
Thank you.
