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gregrussian
New Member

I know I paid a lot of property tax but it isn't listed in my 1098 forms. Can I still report it?

 
2 Replies
rjs
Level 15
Level 15

I know I paid a lot of property tax but it isn't listed in my 1098 forms. Can I still report it?

Yes, you can deduct property tax that you actually paid. It does not have to be shown on Form 1098, and it often is not shown. But you have to have some records showing how much tax you paid - receipts from the municipal tax collector, canceled checks, or the like. The tax bill is not good enough because it doesn't show your actual payments.

 

DaveF1006
Expert Alumni

I know I paid a lot of property tax but it isn't listed in my 1098 forms. Can I still report it?

You can report it if you know the amount of property tax you paid. Keep in mind, your property taxes may be already part of your Mortgage principal balance and may be factored into your interest. This is called an escrow account and this where the mortgage company pays for property tax and insurance on your behalf. 

 

if not, check payment receipts to see ow much tax was actually paid.

[Edited 02-28-2021|12:12 PM PST

 

 

 

 

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