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posted Jun 5, 2019 10:40:54 PM

How to deduct real-estate taxes paid at refinance closing - what documentation support is required?

My refinance Closing Disclosure statement includes a line for real-estate taxes paid.    Real-estate taxes were NOT included on the 1098B forms that I received for the original and new loan.   I did not receive any other 1098B or 1099-S forms. 

Can I use the amount listed on the Closing Disclosure statement as the amount to enter under Property Taxes in the "Your Home" section of Turbo-Tax Deductions and Credits? 

(I would have expected to have a 1098B or similar form - not just by Closing Disclosure.) 

(My refinance coincided with the due-date for real-estate taxes.   The amount listed on the Closing Disclosure was actually paid to the county.)

Any and all help greatly appreciated!

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1 Best answer
Expert Alumni
Jun 5, 2019 10:40:55 PM

Yes, you can deduct the real estate tax paid, since it was actually paid to the county - I am assuming it was paid in 2016...

You do not need to submit any documentation to prove the payment, but please do keep the closing document for your records to support the real estate payment in case you are requested to prove it. Data entry is as follows:

  1. Federal Taxes
  2. Deductions & Credits
  3. Your Home
  4. Property Taxes

1 Replies
Expert Alumni
Jun 5, 2019 10:40:55 PM

Yes, you can deduct the real estate tax paid, since it was actually paid to the county - I am assuming it was paid in 2016...

You do not need to submit any documentation to prove the payment, but please do keep the closing document for your records to support the real estate payment in case you are requested to prove it. Data entry is as follows:

  1. Federal Taxes
  2. Deductions & Credits
  3. Your Home
  4. Property Taxes