On my 1098 form it says real estate taxes paid $0 but on the papers I got at closing it says in the other cost secion Initial escrow payment at closing: property taxes $xxx per month for 3 mo. and the line for at closing says the amount.
There is also a prepaid section with property taxes
You'll need to sign in or create an account to connect with an expert.
The amounts paid into the escrow account do not count.
The bank is holding the money for when the property taxes are due and then when they paid it out of the escrow account, that is when you claim it on your tax return.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Scrouch96
New Member
alyssasouth18
New Member
f05559a60744
New Member
obeteta
New Member
Tealbailey92
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.