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britniburford
New Member

Is the "tax escrow" amount on my 1098 the property taxes I paid in for the year?

 
1 Reply
PaulaM
Expert Alumni

Is the "tax escrow" amount on my 1098 the property taxes I paid in for the year?

Escrow amounts represents collected monies for taxes and insurance by your lender. You will need to deduct the amounts that were paid from the escrow account to the county taxing authority for the real estate taxes.

If your lender paid the property taxes, they might report it in Box 10 of the 1098. Look to your January mortgage statement to confirm amounts or contact the lender for the exact figure they paid on your behalf.

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