topic Can I deduct the full amount of my property taxes even though my mortgage company pays only half the amount per year? in Deductions & credits

Can I deduct the full amount of my property taxes even though my mortgage company pays only half the amount per year?

johanmitch — Tue, 10 Feb 2026 09:50:09 GMT

Re: Can I deduct the full amount of my property taxes even though my mortgage company pays only half the amount per year?

DoninGA — Fri, 19 Jan 2024 23:02:52 GMT

You can only deduct the actual amount paid during the year.

Re: Can I deduct the full amount of my property taxes even though my mortgage company pays only h...

DawnC — Fri, 19 Jan 2024 23:10:09 GMT

You can deduct the amount of property taxes that were paid during the year. When your property/real estate taxes are included on your 1098, you’ll enter them as part of your Mortgage Interest in the property or real estate tax field. If they aren't listed on your 1098 (you paid a portion directly to the tax collector), you’ll enter them separately as property/real estate taxes.

Tip: If you own additional properties for personal use (like a cabin or timeshare), make sure to include the property/real estate payments for those as well.

Where to enter property and real estate taxes

Re: Can I deduct the full amount of my property taxes even though my mortgage company pays only half the amount per year?

VolvoGirl — Fri, 19 Jan 2024 23:15:04 GMT

They probably pay half of the last year's and half of the current year's property tax. Like I'm in California and the property tax is due half in November and half the next Feb (I think, I always pay 100% in Nov). So in the same year you pay Feb & Nov.

Re: Can I deduct the full amount of my property taxes even though my mortgage company pays only half the amount per year?

Opus 17 — Fri, 19 Jan 2024 23:33:52 GMT

You deduct the actual amount paid to the taxing authority during the year. Why is your mortgage company only paying half your property taxes? Are you paying the other half directly? That's deductible either way, whether directly paid or paid by escrow.

However, the money you pay into the escrow account is not deductible. That is still technically your money. It only counts as paid property taxes when the city or county gets paid.