Deductions & credits

Yes.  Even though they will be making the actual payment when it comes due, you were charged for it on the Settlement Statement because it was your obligation to pay it.  This is the same as you actually paying it.

Also, don't forget to enter the actual sale of your home, if required. If all of the following apply, you don't need to report the actual sale of your home.

  • You lived in the home as your main home for at 2 of the 5 years preceding the sale.
  • Your "net" profit from the sale is less than $250,000 ($500,000 if Married Filing Jointly).
  • You didn't take depreciation deduction on the home or use it for business during the time you owned it.
  • You didn't rent it out at any time that you owned it.
  • You didn’t receive a Form 1099-S.


Is the Sale of My Main Home Taxable?

https://ttlc.intuit.com/replies/3300213