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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.

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