Sold a house and bought another. Trying to update ...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
denorkus
New Member

Sold a house and bought another. Trying to update the section for form 1098 since I have two. It says to add up the property tax on both forms. But not listed on forms

 
2 Replies
MaryM428
Level 6

Sold a house and bought another. Trying to update the section for form 1098 since I have two. It says to add up the property tax on both forms. But not listed on forms

Normally property tax is listed on the 1098 when the property tax is paid through an escrow fund along with the mortgage.  If the property tax was paid directly to the city or county, then you will find the amounts on the county auditor website, or check your personal records for a receipt.

 

How to enter 1098

Carl
Level 15

Sold a house and bought another. Trying to update the section for form 1098 since I have two. It says to add up the property tax on both forms. But not listed on forms

The property taxes you paid on the old home you sold, I assume are on the 1098.

The property taxes on the new home are, more than likely, on the closing statement you got when you closed on the purchase of the new home. Take note of the following:

-When you sold the old home, chances are the buyer had to reimburse you a portion of the property taxes. If so, then you have to subtract the reimbursed amount from the property taxes paid, that is shown on your 1098 for the home you sold.

 

Dynamic AdsDynamic Ads
v
Privacy Settings