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carolaoulch68
February 21, 2022
Question

I paid back taxes on the sale of property. Do i have to enter that under property taxes?

  • February 21, 2022
  • 1 reply
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1 reply

ColeenD3
ColeenD3
February 21, 2022

Yes. You can include property taxes from a prior year that you paid in 2021. If you prorated property tax on the closing statement, add that amount to the basis of the house.

 

Seller closing costs are made up of several expenses. Here’s a quick breakdown of potential costs and fees:

  • Agent commission
  • Transfer tax
  • Title insurance
  • Escrow and closing fees
  • Prorated property taxes
  • Credits toward closing costs
  • Attorney’s fees
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