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randjheiser
New Member

Are prepaid county property taxes when refinancing my home be deducted?

 
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PaulaM
Expert Alumni

Are prepaid county property taxes when refinancing my home be deducted?

Yes, but only pro-rated amounts for interest and property taxes (based on a daily amount from your closing date until your first payment) are deductible.

Prepaid mortgage interest and property tax held in escrow is not deductible.  

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2 Replies
PaulaM
Expert Alumni

Are prepaid county property taxes when refinancing my home be deducted?

Yes, but only pro-rated amounts for interest and property taxes (based on a daily amount from your closing date until your first payment) are deductible.

Prepaid mortgage interest and property tax held in escrow is not deductible.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Anonymous
Not applicable

Are prepaid county property taxes when refinancing my home be deducted?

How do I put it on turbo tax as it asked me to put a lender, while I paid to the county?
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