If my mortgage statement shows property taxes paid can I deduct this amount also

[MaryK1 · Accepted solution]

Yes, property taxes paid by your mortgage company can be deducted.

[hl16400]

Ok, if mortgage company paid our old property taxes at the end of last year and is having us pay them back this year will we be able to deduct the amount on last year's taxes since the payment was made last year or will we be able to deduct them this year since we are paying the mortgage company back this year?

[CatinaT1]

You deduct the expenses in the year they are paid.

[hl16400]

Sorry but I am afraid I need clarification because I did not phrase the question as well as I should of. Do you mean the year they are paid to the tax authority or the year we pay the taxes back to the mortgage company?

[DaveF1006]

Whatever the amount is reported on your mortgage statement as property taxes, this is the amount you will report for your property taxes paid. You do not need to be concerned if paid to the tax authority or the year you paid the taxes back to the mortgage company. You would only have these concerns if there were no property taxes reported on your statement.

[hl16400]

Well, we paid our taxes ourself before they paid off the balance at the end of the year. There is no tax noted on the 1098 for 2019. So I guess I will count what I paid in property taxes last year and hope that the mortgage will included what they paid in taxes for us at the end of last year on this year's statement. Thanks

[KarenM90]

Yes!  If your property taxes were paid as part of your mortgage payment, you can deduct them when the mortgage company pays the taxes (they are held in "escrow" by the mortgage company until they pay the taxes.  

For the portion of the mortgage payments that you paid directly to the taxing authority, you can deduct those in the year you paid them.

Here is a helpful link with some more details:  Real Estate Property Taxes