ALTA settlement statement question

[VM2021]

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 · Accepted solution]

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

[VM2021]

OK, thank you.

[morganlucas96]

Where at on turbo tax would you input that info?

[DaveF1006]

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

1. Go to Federal
2. Deductions and Credits
3. Your Home
4. Property Taxes