Question

I double paid 2018 property taxes, and my escrow received tax refund in 2019, causing -$70 on 1098 Form. How should I report property tax?

Forum|Forum|5 years ago
July 9, 2020
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Employee

If you itemized your deductions in 2018, and claimed the full amount of both tax payments, then the $70 refund is taxable income, called a "taxable recovery" in other words, a reimbursement of a previous deduction. That's reported in the Other Uncommon Income section. And of course, you can't deduct any taxes for 2019 since you didn't pay any taxes in 2019.

T

tempegu0927Author

Thanks! I did not deduct my double payments as itemized deduction for 2018. As a result, can I still deduct the taxes I paid for 2019 even though it looks different from my 1098 form (which shows -$70)?