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dmpmama
New Member

Refinanced my main home in 2016. Which interest and property taxes from closing disclosure are deductible

 
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Devin
New Member

Refinanced my main home in 2016. Which interest and property taxes from closing disclosure are deductible

Any deductible interest costs you pay at closing should be included on the Form(s) 1098 you receive from the lenders. You shouldn't need to pull them off the closing statement. Generally, if property taxes are paid via escrow account, which sounds like the case here, then the property taxes will also be on your Forms 1098. If you're unsure how much you actually paid in property taxes, nearly all counties have a website that will allow you to look up your property and see exactly how much property tax was paid on your property each year. I've always found that looking up property taxes with the county is much simpler than trying to reconcile a bunch of statements from different lenders.

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Devin
New Member

Refinanced my main home in 2016. Which interest and property taxes from closing disclosure are deductible

Any deductible interest costs you pay at closing should be included on the Form(s) 1098 you receive from the lenders. You shouldn't need to pull them off the closing statement. Generally, if property taxes are paid via escrow account, which sounds like the case here, then the property taxes will also be on your Forms 1098. If you're unsure how much you actually paid in property taxes, nearly all counties have a website that will allow you to look up your property and see exactly how much property tax was paid on your property each year. I've always found that looking up property taxes with the county is much simpler than trying to reconcile a bunch of statements from different lenders.

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