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sweilep
New Member

Escrow disbursement for property taxes was in 2019. Tax payment posted in 2020. My 1098 shows taxes paid in 2019. Do I go by the 1098 (2019), or county tax record (2020)?

 
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LindaB1993
Expert Alumni

Escrow disbursement for property taxes was in 2019. Tax payment posted in 2020. My 1098 shows taxes paid in 2019. Do I go by the 1098 (2019), or county tax record (2020)?

Since you are a cash-basis taxpayer, the deduction is claimed in 2019.

 

Within this limit, you can still deduct property tax payments that you make directly to the taxing authority, as well as payments made into an escrow account that are included in your mortgage payments. 

In your case, your mortgage lender remits payment to the taxing authority on your behalf.

You can only deduct the amount your lender pays out for property taxes—the actual tax amount—even if you pay more into escrow over the course of the year. 

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