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tfitzhugh
Returning Member

Prepaid property tax in refinance

I refinanced my condo in 2020.  I had 6 months prepaid property taxes rolled into my closing costs, which were rolled into my loan principal, so I did not have to pay any cash to close.  Can I deduct these property taxes?  They did not show up on my 1098 for the new loan.  Thanks!

2 Replies
CatinaT1
Employee Tax Expert

Prepaid property tax in refinance

Are they listed on your closing statement as prepaid property tax?  If so, yes, you can deduct those.

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tfitzhughil
Returning Member

Prepaid property tax in refinance

Yes, they are, Thanks!

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