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My mortgage company paid all my taxes for 2012, I did not pay anything due to a foreclosure process?
Due to a terrible modification process with my mortgage company, they paid all taxes for 2012. I only paid 3 months mortgage as per the mod agreement. I recd a 1098 showing the interest I paid for the 3 month period and listed in box 4 of the 1098 is the taxes they paid, do I have to deduct the amount on my return or is it just for information purposes.
2 Answers
- chatsplasLv 78 years agoFavorite Answer
You were legally obligated to pay RE taxes
But you didn't, therefore you cannot take that amount as deduction on your tax return
Likely you won't be itemizing, anyway, with only 3 months interest paid
Source(s): Tax pro - ?Lv 44 years ago
you're properly suited. you could desire to hire an lawyer - no longer with the aid of fact the lender grow to be incorrect, yet to describe to you what ensue. apparently which you have been somewhat at the back of on the taxes - possibly to the element the place they have been going to take the abode. The lender had to step in and pay the taxes or danger dropping the abode to the optimal bidder. What i don't comprehend is why your taxes went up 800 a month. How plenty are your taxes a 12 months? possibly the 800 a month is for decrease than some months till you pay it returned. possibly you could paintings out a cope with the monetary enterprise to diminish the quantity by utilising spending the charge out greater. returned, how plenty are your taxes in line with 12 months.
