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Which property taxes from my closing disclosure do I add to the Property (Real Estate) Taxes box in Turbo Tax?

E. Taxes and other Gov Fees  (UNDER borrower-paid)
02 INTANGIBLE TAX to COUNTY TAX COLLECTOR - $381.95
03 STATE TAX/STAMPS to COUNTY TAX COLLECTOR - $668.50

F. Prepaids (UNDER borrower -paid)
04 Property Taxes (6 mo.) to COUNTY TAX COLLECTOR - $3,235.39

Can all of these be added to the property taxes box in Turbo tax or only a select few?
We do not just have one "taxes" section on our closing disclosure and box 10 is empty on the mortgage interest statement. No points are shown either.
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1 Reply
KrisD15
Expert Alumni

Which property taxes from my closing disclosure do I add to the Property (Real Estate) Taxes box in Turbo Tax?

It depends on whether you were the Buyer or seller and if your state bills for the year past or the year started. 

 

If property tax is paid ahead, the seller takes credit for the months paid up to closing and the buyer takes credit for what they reimburse the seller for months remaining. 

Since you show "prepaid" I assume that is the way it worked for you. 

The other fees are added to the basis. 

Only if the tax is 

based on value

charged evenly to all property owners 

may they be deducted as property taxes paid. 

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