I took a new mortgage in 2016 to buy my currently residing home. The taxes paid on 1098 from the lender is $4495, Should I include Initial Escrow payment in addition?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
manojmenon123
New Member

I took a new mortgage in 2016 to buy my currently residing home. The taxes paid on 1098 from the lender is $4495, Should I include Initial Escrow payment in addition?

Initial Escrow Payment of $4200 on Closing Disclosure statement. Should I include $4495 or a total of $8695?
1 Reply
Lilly Peck
Level 4

I took a new mortgage in 2016 to buy my currently residing home. The taxes paid on 1098 from the lender is $4495, Should I include Initial Escrow payment in addition?

The amount reported on the 1098 is the amount you can deduct. The escrow was essentially a down payment on the house.

Dynamic AdsDynamic Ads
v
Privacy Settings