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Should I list Property tax as an expense or is it accounted for in the 1098 from Mortgage?

Should I be listing the property taxes paid for my rental property as an expense or is it already accounted for in the 1098 that my bank sends me? Because my Mortgage company pays for the Property taxes at the end of the year. 

I do not want to count it twice if it is already accounted for, thank you for your expert advise!

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1 Reply
DianeW777
Expert Alumni

Should I list Property tax as an expense or is it accounted for in the 1098 from Mortgage?

When you enter the mortgage interest for rental activity you must also enter your property taxes.  There is not a separate entry for your property taxes when you enter your mortgage interest in the rental activity.  See the images below.

 

  • Search (upper right) > Type rentals > Click the Jump to... Line > Select the expenses to edit

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