I closed on a brand new house on 5/2/2018. I have over 20k in my escrow account but only $17 in taxes paid. How do deduct property taxes for 2018?? Do I wait until 2019?

[soulidis]

I will have to pay property taxes from my escrow once assessed, but ill miss out on the deduction this year? Can I deduct 2018 taxes paid in 2019 and 2019 paid in 2019 on my 2019 return?

[MinhT · Accepted solution]

You can deduct property taxes in the year the taxes were paid. If you pay both 2018 and 2019 property taxes in 2019, then you can claim them on your 2019 tax return. However, the state and local tax (SALT) deduction is limited to $10,000.