Deductions & credits
@amar_r wrote:
what about this prepaid mortgage interest in closing statement, original loan sold to another lender and not included in their 1098 form
Also, in addition to the interest adjustment, you probably paid a property tax adjustment. That is considered deductible property taxes as if you paid them directly to the taxing district. For example, in my state, property taxes are due in February for the period January-June, and a second payment is due in July for the period July-December. If I buy a house in September, I will reimburse the seller for taxes they paid in July that cover my days of ownership from Sept to the end of the year. I can deduct those taxes as if I paid them to the town.
