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Deductions & credits
Yes, and actually the home was purchased on Jan 8th. The taxes which run Jan 1 through Dec 31 were about $3000. The seller gave a concession of let's say $4000 on the sale and attributed it to the $3000 in taxes and the $1000 in bank origination fee. But in reality he only owned the home for 8 days, so I should be able to claim the rest of they year's county taxes of ($2934). And I also should be able to claim the $1000 bank origination fee(points). Do I have it right? Too often I see on this site that the seller get's to claim those taxes but I don't think so. Plus it pertains to the taxes I am working on now.
‎June 5, 2019
10:32 PM