Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
sbowershypob1
New Member

My 2016 taxes, which I paid into an escrow account, were not paid by the Mortgage company until January 3, 2017. Can I deduct these taxes on my 2016 filing?

 
1 Best answer

Accepted Solutions
jerry2000
Alumni

My 2016 taxes, which I paid into an escrow account, were not paid by the Mortgage company until January 3, 2017. Can I deduct these taxes on my 2016 filing?

No, you can not. Property taxes can be deducted only in the year when they were actually paid, regardless of what year they are for. You will deduct property taxes paid in 2017 on your 2017 tax return when you prepare it in 2018.

View solution in original post

1 Reply
jerry2000
Alumni

My 2016 taxes, which I paid into an escrow account, were not paid by the Mortgage company until January 3, 2017. Can I deduct these taxes on my 2016 filing?

No, you can not. Property taxes can be deducted only in the year when they were actually paid, regardless of what year they are for. You will deduct property taxes paid in 2017 on your 2017 tax return when you prepare it in 2018.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.61m
Discussions

Manage cookies
v