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ApDu
New Member

Do I use the paid property tax information from my lender's 1098 or do I use my own calculations?

My lender sent me a 1098 that included paid property taxes. The amount paid was the total amount due on my property tax bill, including special taxes and assessments. 

Do I use the amount they reported on the 1098 as the amount to use for my property tax deduction, or do I need to look up our property taxes and subtract the items found under the special taxes and assessments section? I live in CA.

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KrisD
Intuit Alumni

Do I use the paid property tax information from my lender's 1098 or do I use my own calculations?

You would be wise to manually do the reporting. Enter the 1098 without the tax and then enter the property tax paid under the "Taxes Paid" section. 

The amounts for assessments made be added to the basis of the property. 

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1 Reply
KrisD
Intuit Alumni

Do I use the paid property tax information from my lender's 1098 or do I use my own calculations?

You would be wise to manually do the reporting. Enter the 1098 without the tax and then enter the property tax paid under the "Taxes Paid" section. 

The amounts for assessments made be added to the basis of the property. 

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