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How to claim my property tax deduction if some of it was prepaid?
I purchased a property as my primary residence and it got closed on Jan 8th 2021. Because the seller had already paid the property tax for the first quarter of 2021, I had to pay it to the seller as part of the closing cost. I have a mortgage as well as an escrow account so the property tax for the rest of the year was taken care of by the bank.
Am I able to claim the part that I paid to the seller in my property tax deduction? Thanks.
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‎April 4, 2022
7:59 AM