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March 6, 2022
Question

If box 10 on my 1098 is blank, do I use the school and town/county taxes listed on our loan statement?

  • March 6, 2022
  • 1 reply
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1 reply

LenaH
March 6, 2022

Yes. The amount listed on your mortgage statement for property taxes paid out of escrow as of December 31, 2021, can be deducted. 

 

To enter your real estate taxes paid, please follow the instructions below:

  1. Sign in and open your return if you're not already in it.
  2. Inside TurboTax, search for property tax and select the Jump to link at the top of your search results.
  3. Answer Yes to the question Did you pay property or real estate taxes in 2021?
  4. Enter your property/real estate taxes on the next screen.

It is important to note that you won't be able to deduct your property taxes if you're taking the standard deduction. Furthermore, even if you itemize, the State and Local Tax (SALT) deduction, which includes property tax, is capped at $10,000 ($5,000 for couples filing separately). 

 

For more information, please see Can I deduct property (real estate) taxes?

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