turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

edavis-j
New Member

Bought house, can I deduct property taxes paid for by the seller at closing?

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?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DeniseF1
New Member

Bought house, can I deduct property taxes paid for by the seller at closing?

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.

View solution in original post

1 Reply
DeniseF1
New Member

Bought house, can I deduct property taxes paid for by the seller at closing?

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.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question