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Can I deduct prepaid home owner's insurance and county property taxes for a rental property that were paid at closing settlement?
I refinanced on a rental house. I prepaid homeowner's insurance for 4 mos. & county property taxes for 7 mos on settlement statement. Can I deduct these fees? where do I enter? Also later in the same year, I paid for the whole year of home owner's insurance and county property. Can I total them up and put into insurance premium and real estate taxes column? Thank you in advance.
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‎June 3, 2019
11:15 AM