I bought a SFH last December. In closing, I paid for property tax for period from 1/1/2024 to 6/30/2024.
When filing my tax return for 2023, I am asked to enter the property tax paid in 2023. Should I enter my pre-paid tax or not? Thanks!
You'll need to sign in or create an account to connect with an expert.
Yes, you are allowed to enter the property taxes you were required to pay in 2023. If you itemize your deductions you are allowed to include any amount actually paid in 2023.
On the Settlement Statement it will show the property taxes you paid that were required at settlement and those that must be placed in escrow. Be careful not to use any escrow funds, only the actual taxes paid by you or through your escrow account in 2023.
Yes, you are allowed to enter the property taxes you were required to pay in 2023. If you itemize your deductions you are allowed to include any amount actually paid in 2023.
On the Settlement Statement it will show the property taxes you paid that were required at settlement and those that must be placed in escrow. Be careful not to use any escrow funds, only the actual taxes paid by you or through your escrow account in 2023.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
smlucio
Level 1
rhalexda
Level 2
obeteta
New Member
zeishinkoku2020
Level 2
chunhuach
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.