My mortgage company screwed up and only paid half of my tax bill from my escrow account in 2017. I discovered this after they sent me the 1098. They are in the process of paying the difference. I would like to deduct the upcoming payment on my 2017 taxes since I will exceed the upcoming $10,000 SALT limit in 2018. Is this allowed?
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Unfortunately no, only what was paid in 2017 can be deducted in 2017. The amount they pay now will go on your 2018 tax return. Please see the TurboTax FAQ regarding this for more details.
Unfortunately no, only what was paid in 2017 can be deducted in 2017. The amount they pay now will go on your 2018 tax return. Please see the TurboTax FAQ regarding this for more details.
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