502144
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have bought a new home this year, closed in Dec. On the final closing statement I see $3250 ( Property tax) & $2250(loan origination fee). Can I claim these in 2018?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
KatrinaB
Intuit Alumni

I have bought a new home this year, closed in Dec. On the final closing statement I see $3250 ( Property tax) & $2250(loan origination fee). Can I claim these in 2018?

No. You must claim a deduction for qualifying fees and taxes in the year they were paid, so you must claim them on this year's tax return.

The origination charge you paid is generally deductible. To add the origination fees to your return, go to >Deductions and Credits >Your Home >Mortgage Interest and Refinancing (This section covers new loans).

Add your bank name and click Continue. The next screen says "Tell Us More About Your Loan".  Check the box for "This is a new loan on which I paid points" and any other options that apply to your situation. Enter the interest from Form 1098 (box 1) and click continue. Then enter the origination fees (points).


If you paid property taxes through your escrow account they may be deductible. Please view the details below to determine if they are deductible this year.

https://ttlc.intuit.com/replies/6001129


[Edited 03.11.2018 I 5:54 PM]

I have bought a new home this year, closed in Dec. On the final closing statement I see $3250 ( Property tax) & $2250(loan origination fee). Can I claim these in 2018?

Sorry when I said can I claim then in 2018, I meant can I claim them on 2017 tax return? I am asking especially about the property taxes as I paid these into the escrow account in 2017 but the actual payment to the city would have happened in 2018.
KatrinaB
Intuit Alumni

I have bought a new home this year, closed in Dec. On the final closing statement I see $3250 ( Property tax) & $2250(loan origination fee). Can I claim these in 2018?

I've edited the answer above.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question