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Property Tax: is in the Closing statement Borrowers Transactions: as Adjustments for items paid by seller in advance. Same property tax is included in the Cash to Close.

Property Tax: is in the Closing statement, Borrowers Transactions: as Adjustments for items paid by seller in advance. Same property tax is included in the Cash to Close. 

What i understand from this is that: The seller paid these taxes in advance. But looks like I am paying these taxes back to the seller and the amount equals to the proration from my move in date / purchase date to July 01 2018.

Need Guidance: I am assuming that since I paid this in closing and while not to the county directly, but in a way reimbursed to the seller (?) ... i would be the one to include them in my deductions?

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KrisD
Intuit Alumni

Property Tax: is in the Closing statement Borrowers Transactions: as Adjustments for items paid by seller in advance. Same property tax is included in the Cash to Close.

Yes, the amount was paid to the county by the Seller, but you paid the Seller, so the tax was paid by you. 

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1 Reply
KrisD
Intuit Alumni

Property Tax: is in the Closing statement Borrowers Transactions: as Adjustments for items paid by seller in advance. Same property tax is included in the Cash to Close.

Yes, the amount was paid to the county by the Seller, but you paid the Seller, so the tax was paid by you. 

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