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vanessaS2
New Member

Mortgage interest mid-year purchase

I purchased a home in Texas on Oct 1of 2020. Taxes in our county are paid in December. 

My form 1098 says that I paid ~$12,000 in taxes (which is the amount the mortgage company paid to the county). However the seller credited me ~$9,000 at close for their portion of the taxes and I was only responsible for ~$3,000 for the three months I owned the home.  Do I deduct the entire $12,000 (well...$10,000 with the SALT cap) or only my portion? If it's only the ~$3,000 is it OK that my number doesn't match the 1098? 

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2 Replies
ppp3
Level 2

Mortgage interest mid-year purchase

You only show your portion which is the $3000.  The person who sold you the home can claim the $9000 on their taxes.

ppp3
Level 2

Mortgage interest mid-year purchase

And yes, it is ok that your amount does not match the 1098 mortgage interest statement

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