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Can I deduct real estate taxes paid through my escrow?
I have my 1098 for the mortgage interest but my real estate taxes are paid out of my escrow. Do I get to deduct it from the amount my local tax authority listed on a tax bill that the mortgage company then paid? I assume yes because it was my money going into the escrow and therefore my money that paid the real estate taxes.
5 Answers
- BobbieLv 78 years agoFavorite Answer
YES when you do have this correct at this time during the 2013 tax filing season on your schedule A.
Hope that you find the above enclosed information useful. 04/03/2013
- troLv 78 years ago
the 1098 should indicate how much the property taxes were that were paid through the escrow and would be applicable to the Sch A
- Steve DLv 78 years ago
Yes, you deduct all property taxes paid from escrow during the 2012 calendar year.
- acmeravenLv 78 years ago
Yes. Also check for MIP (mortgage insurance premiums) which are deductible if you itemize on Sch A. These would appear on your statement also.
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