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bgsu75
New Member

1098 box 10 is blank but I do pay property tax out of escrow

 
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Accepted Solutions
AmandaR1
New Member

1098 box 10 is blank but I do pay property tax out of escrow

You can always enter the property taxes you paid (whether out of escrow or paid otherwise). 

It's not required that your property taxes be entered on your 1098. However, typically box 10 reports property taxes paid from escrow. If you think your form may be incorrect, you might want to double check with the company that issued you the form.

You can deduct the property taxes you paid under: Federal Taxes >> Deductions & Credits >> Your Home >> Property Taxes.

In the year of sale, however, if you prepay your taxes and a buyer purchases the home, including their portion (time wise) of the property taxes for the year in the sale price (and vice versa for purchasing a home) - these are not deductible. Be sure the total property tax is only being deducted once.  


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1 Reply
AmandaR1
New Member

1098 box 10 is blank but I do pay property tax out of escrow

You can always enter the property taxes you paid (whether out of escrow or paid otherwise). 

It's not required that your property taxes be entered on your 1098. However, typically box 10 reports property taxes paid from escrow. If you think your form may be incorrect, you might want to double check with the company that issued you the form.

You can deduct the property taxes you paid under: Federal Taxes >> Deductions & Credits >> Your Home >> Property Taxes.

In the year of sale, however, if you prepay your taxes and a buyer purchases the home, including their portion (time wise) of the property taxes for the year in the sale price (and vice versa for purchasing a home) - these are not deductible. Be sure the total property tax is only being deducted once.  


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