Skip to main content
January 19, 2024
Solved

Help with property tax deduction

  • January 19, 2024
  • 1 reply
  • 0 views

Good Morning,

 

I recently bought a home in 2023. Per the Closing Disclosure, it shows under the "borrower paid" column, an amount of property taxes paid to the county for which the property is located. It also shows that same amount for items unpaid by seller.

 

My question is, since it is under the "borrower paid" and items unpaid by seller, would I claim that amount of property taxes, since it is showing on the 1098 for this year?

Best answer by Carl11_2

If you are the buyer and the disclosure statements show "borrower paid", then you can claim it.  However, be very careful that you don't double-dip here. It's not uncommon for the taxes paid to also be duplicated on the 1098.

1 reply

Carl11_2
Carl11_2Answer
Employee
January 19, 2024

If you are the buyer and the disclosure statements show "borrower paid", then you can claim it.  However, be very careful that you don't double-dip here. It's not uncommon for the taxes paid to also be duplicated on the 1098.

January 19, 2024

Thank you. I checked the county website to confirm the amount paid matched what was on the CD. Made sure not to duplicate 🙂