I closed my house in October 2016. On my closing statement, there's an item " Initial Escrow Payment at Closing: property taxes for 9 months. $4050"

[lucia]

However, 1098 only shows $1095 was paid in 2016 for property taxes. What should I report on TT?

[lfn4facebook]

Did it say taxes paid? I am looking at a closing statement and it said County Tax Reserves for 7 months and closing was July 2016.

[AmyT · Accepted solution]

You should report both the amount of property taxes that were paid at closing and the amount paid through the escrow account on your mortgage.

Your total property tax payments for 2016 will be $4,050 + $1,095 = $5,145

[lfn4facebook]

Will the answer be the same if the closing settlement said Property Tax Reserves?  I saw the reserve amount ( well a couple of hundred $s lesser) deposited to the escrow account.  Can I still deduct both?