How can deduct real estate taxes for the 1040A?
I bought a house in October 2007. My monthly mortgage payment includes my county, state and school taxes (which are placed in custody). Apparently, my tax payments will be paid in escrow in April, May and August 2008. Does this mean that the property can not claim for the return of my 2007? (To conclude that the seller had to refund the taxes they had paid to December 31)
If you pay property tax to the seller his closing statement, then deduct the amount returned .. You know the amount? Search your heart and closure must show the amount allocated to property taxes. Nothing paid in 2008 can be deducted from his detailed until next year. Best Wishes!
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