My 1098 for 2018 showed in Box 10 "PROPERTY TAXES". I also closed on the home in 2018, does it include the taxes at closing? If not, where can I find and include that?

[brianpoon92]

I closed on my home in 2018. Does my 1098 automatically include closing cost taxes? If not, will I need to find my closing statements and include the taxes? Are there only certain taxes I can include? This is my first time using real estate deductions.

[Leonard · Accepted solution]

No your 1098 will not show property taxes paid at the closing of your home.  You will find the property taxes you paid at closing on your HUD-1 statement that you received at closing.  Real estate taxes are the only taxes that are deductible.  Transfer taxes paid at closing are added to the cost basis of your property and are not deductible.

[brianpoon92]

I looked through all the paperwork from closing and did not find something relating to HUD-1. I looked online and it seems that with the purchase year being 2018, the HUD-1 was replaced with "Closing Disclosure". Can you confirm this is correct? If so, then I did find it! Thank you for responding!

[Leonard]

Yes the HUD-1 was replaced by the "Closing Disclosure"  
You are welcome