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cbonsera
New Member

On the 1098 under disbursement activity for 2016 it says i paid $6084 in taxes but my property assessment says that net taxes billed for 2016 is $9039 what is correct?

 
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Anita01
New Member

On the 1098 under disbursement activity for 2016 it says i paid $6084 in taxes but my property assessment says that net taxes billed for 2016 is $9039 what is correct?

The 1098 is correct.  You can deduct only the amount disbursed by your mortgage holder during the tax year.  The amount on your assessment may not have needed to be paid during calendar 2016.

If you want to investigate further, you would call your mortgage holder.

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2 Replies
Anita01
New Member

On the 1098 under disbursement activity for 2016 it says i paid $6084 in taxes but my property assessment says that net taxes billed for 2016 is $9039 what is correct?

The 1098 is correct.  You can deduct only the amount disbursed by your mortgage holder during the tax year.  The amount on your assessment may not have needed to be paid during calendar 2016.

If you want to investigate further, you would call your mortgage holder.

TomD8
Level 15

On the 1098 under disbursement activity for 2016 it says i paid $6084 in taxes but my property assessment says that net taxes billed for 2016 is $9039 what is correct?

Many taxing authorities bill "in arrears."  In those locations 2016 taxes aren't billed until 2017.  Taxes are deductible in the year actually paid.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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