I'm doing our 2016 income taxes using Turbo Tax. I've gotten in the part under Deductions & Credits where I'm entering information on our mortgage. The problem I'm having is trying to understand the confusing instructions Turbo Tax is giving me. There's a textbox with a label that says, "Property Taxes Paid". Then below that is a link that says, "Where do I enter my property taxes?" I clicked on the link and it says, "If you paid real estate (or property) taxes through an escrow account, you need to report this amount in Property Taxes, not here."
I have no idea where that is. We did use an escrow account to pay our property taxes, so where in Turbo Tax 2016 do I enter that?
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The caution is that you do not enter the amount paid into the escrow, but rather the actual property taxes paid from the escrow by the lender to the tax collector.
You can go directly to enter your real estate property taxes by using the steps below.
The caution is that you do not enter the amount paid into the escrow, but rather the actual property taxes paid from the escrow by the lender to the tax collector.
You can go directly to enter your real estate property taxes by using the steps below.
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