Skip to main content
February 18, 2023
Question

When I am entering my information into my 1098 form. Why is there not a box 10 where I can enter my other tax paid

  • February 18, 2023
  • 1 reply
  • 0 views
No text available

1 reply

February 18, 2023

Assuming you are referring to Form 1098, Mortgage Interest Statement, and the amount in question on your form represents real estate taxes paid by the mortgage company from amounts you deposited in an impound account, enter the amount paid in the box in Deductions & Credits under the Mortgage Interest section labeled "Property (real estate) taxes" underneath Box 5.

 

Where do I find how much I've paid in property taxes?

  • Your mortgage interest statement may list the amount of real estate taxes you paid if you use an escrow or impound account with your lender to cover real estate taxes.
  • If your real estate taxes aren't included in escrow payments made with your mortgage payments, look through financial records to figure out how much you paid for property taxes during the year.
  • Be sure to pick up any real estate taxes included on your settlement or closing statement from when you purchased your home.

Caution: Don't deduct your payments into your escrow account as real estate taxes. Your deposits are simply money put aside to cover tax payments. You should deduct only the actual property tax payments made from the account by your lender during the year.

 

If your real estate taxes are paid by you directly instead of through an impound account, enter them in the section labeled Property (Real Estate) Taxes.

 

See this article for more information on deducting interest and property taxes.

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"