I bought a house on September 1st, 2017. In closing costs, there were property (county + school) taxes paid for by the seller.
When I look at my HUD form, I'm the one technically being charged for the taxes, so even though I didn't pay for them, can I deduct them on my taxes?
Secondly, how does one determine how much of the school taxes to apply for deduction? If the taxes are paid in full for a period covering September 2017 to July 2018, do I divide the total by the 10 months and then multiply by the 3 months in 2017?
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No. You can only deduct the amount you actually paid for property taxes. In regards to school tax deduction, you claim the amount for tax year 2017, which is the 3 months.
No. You can only deduct the amount you actually paid for property taxes. In regards to school tax deduction, you claim the amount for tax year 2017, which is the 3 months.
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