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Deductions & credits
you are correct the $200 is misc taxable income if you deducted all of your real estate taxes paid in 2019. (ie you weren't limited by the $10K cap on taxes.
the $1,000 credit for the 2020 taxes that the seller gave you will offset the taxes you pay in 2021 for 2020
‎February 25, 2021
11:51 PM