Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Mar 6, 2022 7:37:01 AM

Two mortgages and reporting of non-escrowed property and school taxes

I owned a home in NY for the entire 2021 year and was paying my property and school taxes directly to the county and school district.  These bills were not escrowed into our mortgage as we chose not to when we purchased the home in 2015.  In May 2021 we purchased a vacant property in OH so that we could start building a new home in 2022.  Where would I report the NY taxes since these would not have been escrowed into our NY mortgage?

0 1 783
1 Replies
Expert Alumni
Mar 7, 2022 8:44:53 AM

Real estate taxes (also called property taxes) for your main home, vacation home, or land are an allowable deduction if they're based on the assessed value of the property and the property is for your own personal use.

Don't include school taxes, unless they're based on the assessed value of your property.

 

To report Property tax paid:

  1. Login to your account.
  2. Select Federal from the left menu.
  3. Go to Deductions and Credits.
  4. Scroll down and select start next Property tax 
  5. Enter the Property tax paid on your main home and in the box below Additional homes or land report also the taxes paid for the Land.