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03-27-1959
Returning Member

My home was paid off in full this year and I received an escrow refund of 995.57. Do I need to apply this on my taxes

no
1 Best answer

Accepted Solutions
AmyT
New Member

My home was paid off in full this year and I received an escrow refund of 995.57. Do I need to apply this on my taxes

A refund of an escrow that you paid as part of your mortgage is not considered to be taxable income.

This is an additional amount paid as part of your monthly mortgage payment that is an estimate of the real estate taxes and homeowners insurance.  Since it was never a deduction, it is not now considered to be income.

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1 Reply
AmyT
New Member

My home was paid off in full this year and I received an escrow refund of 995.57. Do I need to apply this on my taxes

A refund of an escrow that you paid as part of your mortgage is not considered to be taxable income.

This is an additional amount paid as part of your monthly mortgage payment that is an estimate of the real estate taxes and homeowners insurance.  Since it was never a deduction, it is not now considered to be income.

View solution in original post

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