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Do I need to enter my property tax amount if my mortgage company pays them?

 
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Accepted Solutions
Carl
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Do I need to enter my property tax amount if my mortgage company pays them?

While there is no "official" block on the 1098 to show property taxes paid, most will include it somewhere on the form.
YES. You will enter the property taxes paid when prompted for that. The mortgage company paid those taxes with "YOUR" money from your escrow account. You can claim it. Weather it's actually deductible or not depends on to many factors to cover here. But the program will be able to deal with it just fine, provided you actually enter the amount paid.

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4 Replies

Do I need to enter my property tax amount if my mortgage company pays them?

The property tax paid will be on the Form 1098 that you receive from the lender for the Mortgage Interest paid.  So do not enter the Property Taxes paid separately.

Enter the Form 1098 you receive from the lender as received in the Mortgage Interest section of the program.

Do I need to enter my property tax amount if my mortgage company pays them?

you don't have to enter anything if you are not itemizing.

 

the SALT deduction helps less than 50% of homowners, mostly, the wealthier half.

@bsmcallister1 

TomD8
Level 15

Do I need to enter my property tax amount if my mortgage company pays them?

The mortgage company isn't paying your property taxes; YOU are.  The mortgage company is simply the middleman.

 

As @DoninGA said, you should enter your 1098 as is, including the property tax paid.  The TT program needs that information in order to determine whether you're better off itemizing or taking the standard deduction.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
Carl
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Do I need to enter my property tax amount if my mortgage company pays them?

While there is no "official" block on the 1098 to show property taxes paid, most will include it somewhere on the form.
YES. You will enter the property taxes paid when prompted for that. The mortgage company paid those taxes with "YOUR" money from your escrow account. You can claim it. Weather it's actually deductible or not depends on to many factors to cover here. But the program will be able to deal with it just fine, provided you actually enter the amount paid.

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