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Investors & landlords
Unless you have tens of thousands of dollars in the escrow account, I seriously doubt the interest is enough to make even $1 difference to any tax liability. I also have an interest bearing escrow account for the mortgage on my rental properties. (I have three). All together the interest paid might on rare occasion, exceed $10 for the entire tax year. I just enter it under personal income in the 1099-INT section and press on.
March 16, 2022
6:35 PM