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Can I deduct the 6 months of property taxes I paid at closing when I refinanced my main home in 2016, in addition to the property taxes shown on the old lender's 1098?

I received a 1098 from my old lender that shows the amount of property taxes I normally pay each year.  I was going through deductions and notice that I may be able to deduct other qualifying expenses like property tax paid at closing.  My closing documents show that I paid 6 months worth of property taxes at closing and I want to know if I can take this deduction.

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WillK
Intuit Alumni

Can I deduct the 6 months of property taxes I paid at closing when I refinanced my main home in 2016, in addition to the property taxes shown on the old lender's 1098?

Yes, since you paid the property taxes at closing you can take that deduction.You would add the amount you paid at closing for the property taxes into the program after you add the 1098 that needs to be added. 

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4 Replies
WillK
Intuit Alumni

Can I deduct the 6 months of property taxes I paid at closing when I refinanced my main home in 2016, in addition to the property taxes shown on the old lender's 1098?

Yes, since you paid the property taxes at closing you can take that deduction.You would add the amount you paid at closing for the property taxes into the program after you add the 1098 that needs to be added. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Can I deduct the 6 months of property taxes I paid at closing when I refinanced my main home in 2016, in addition to the property taxes shown on the old lender's 1098?

Thank you TurboTaxWill

Can I deduct the 6 months of property taxes I paid at closing when I refinanced my main home in 2016, in addition to the property taxes shown on the old lender's 1098?

Do you know where I can enter this?  I clicked yes, I have refinance expenses and it brought me back to the list of 1098's that I already entered.  I did not get a 1098 for this property tax I paid at closing.
anupnanda
New Member

Can I deduct the 6 months of property taxes I paid at closing when I refinanced my main home in 2016, in addition to the property taxes shown on the old lender's 1098?

I'm looking for an answer to the same question. Please provide an answer.
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