Question

Property Tax issue with my Escrow?

Forum|Forum|6 years ago
April 28, 2020
1 reply
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I was preparing my 2019 taxes and I saw that I had two 1098 forms one for a old loan refinanced in 2019 and one for the new loan. Both are with Rocket Mortgage which used to be Quicken. I spoke to Quicken and they said that the first half taxed were paid under the old loan in April 2019 which was correctly reflected in that 1098 and that the second half taxes were paid at closing, this was not reflected in the new 1098. I checked my county treasurer office and they did not show either payment. After some review and discussion with Quicken they are paying the full amounts plus penalty and interest now. I have the 1098 with the First half and the closing document reflecting the 2nd half payment can I still claim the payments for 2019 as I made them in 2019 even thought Quicken is only now making the payments?

RobertG

Yes, you should claim the payments.

You owed the tax in 2019 and you paid the tax in 2019. Quicken failed to forward the payments, but you made them in good faith and have proof in the form of a 1098 and an Escrow statement.

You can't claim the deduction in 2020, because you didn't pay it in 2020. So the only time you can claim it is when you paid it.

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