Solved: Can I deduct real estate taxes paid via escrow in ...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
Returning Member

Can I deduct real estate taxes paid via escrow in 2019, even if the lender did not pay them until 2020?

I refinanced in October of 2019, and my new lender did not pay my property taxes until January 2020. I paid this amount via escrow in 2019. Can I still deduct them on my 2019 return even though they do not show on my 2019 1098 form?

1 Best answer

Accepted Solutions
Employee Tax Expert

Can I deduct real estate taxes paid via escrow in 2019, even if the lender did not pay them until 2020?

No. You can only deduct them after your lender has paid them. 

 

Please see Can I deduct property (real estate) taxes? to learn more. This situation is specifically mentioned toward the end of the article.

Per page 7 of the 2019 Schedule A instructions, only taxes paid in 2019 can be deducted for 2019.

View solution in original post

1 Reply
Employee Tax Expert

Can I deduct real estate taxes paid via escrow in 2019, even if the lender did not pay them until 2020?

No. You can only deduct them after your lender has paid them. 

 

Please see Can I deduct property (real estate) taxes? to learn more. This situation is specifically mentioned toward the end of the article.

Per page 7 of the 2019 Schedule A instructions, only taxes paid in 2019 can be deducted for 2019.

View solution in original post

Dynamic Ads
v
Privacy Settings