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How do I account for the sale of our home and purchase of a new home in 2020 (re: deducting property taxes?)??
We sold our original home (had been there 5 years) and purchased a new home in 2020. I am not sure how to input our property tax deduction for this year... I have the amount we actually paid in property taxes to the county (for our original home), the amount extra we paid to the buyers at closing when we sold that home (to cover the remaining portion of the year for property taxes) and the amount we received as a credit from the sellers of our new home when we purchased it. But I'm not sure what to do with all of these numbers? Particularly as the amount we received in credit when we were buyers is higher than the amount we paid and the amount we credited our buyers combined... I have both settlement statements from our purchase and sale, what do I do???