You'll need to sign in or create an account to connect with an expert.
Property tax payments aren't deducted when they're put into escrow. They're deducted when the mortgage lender actually makes the tax payment. In most cases, the paid property taxes will appear on your Form 1098, your year-end statement from your mortgage lender.
Since your home closed so late in the year, it's unlikely that any property tax has yet been paid on your new home. That's because the home buyer is only responsible for the property taxes from the date of closing forward. The seller is responsible for the property taxes up to, but not including, the date of closing.
Property tax payments aren't deducted when they're put into escrow. They're deducted when the mortgage lender actually makes the tax payment. In most cases, the paid property taxes will appear on your Form 1098, your year-end statement from your mortgage lender.
Since your home closed so late in the year, it's unlikely that any property tax has yet been paid on your new home. That's because the home buyer is only responsible for the property taxes from the date of closing forward. The seller is responsible for the property taxes up to, but not including, the date of closing.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
John9900
New Member
karn1006
New Member
jakef731
New Member
mamamids
New Member
cashrn-gmail-com
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.