topic Re: ALTA settlement statement question in Deductions & credits

ALTA settlement statement question

VM2021 — Tue, 24 Feb 2026 05:10:57 GMT

Hello,

On my settlement statement, in Prorations/Adjustments section there are city/town taxes debited to/from borrower/buyer (me) and credited to seller.

It is my understanding that this is a reimbursement of real estate taxes prepaid by the seller. Therefore, it can be included in my real estate tax deduction, based on this article: https://turbotax.intuit.com/tax-tips/home-ownership/buying-your-first-home/L5QxJLcQT.

Is this correct?

Thank you.

M-MTax — Thu, 13 Apr 2023 23:41:34 GMT

If you paid the tax you can deduct it. Doesn't matter that they're on a settlement statement.

VM2021 — Thu, 13 Apr 2023 23:44:04 GMT

OK, thank you.

morganlucas96 — Mon, 03 Feb 2025 19:39:38 GMT

Where at on turbo tax would you input that info?

DaveF1006 — Fri, 07 Feb 2025 21:38:22 GMT

Yes, you can claim this as a property tax paid. To report: