Property TaxPosted In CategoryLaws and Regulations
FFahadking 2 years ago
Can I claim property (real estate) taxes if I recently bought or sold my home?
ZZeeshan 2 years ago
Yes, your share of these taxes can be claimed if you itemize your deductions. Property (real estate) taxes are generally divided between the buyer and seller so each pays taxes for the part of the year they own the home.
AAmir 2 years ago
As a seller, You can claim property (real estate) tax you already paid for the calendar year, minus any amount allocated to the buyer.
SSheheryar 2 years ago
You can claim any property (real estate) tax you were charged in your closing costs.
AAli 2 years ago
If you were reimbursed for the buyer’s share at the close of escrow or not—you can only claim your share of the property (real estate) tax for the time you owned the home.
YYasir00 2 years ago
As a buyer, If you made payments into an escrow account, you can only deduct the amount actually paid by your lender to the taxing authority on your behalf during the year.
UUsama 2 years ago
Deductible property (real estate) taxes include taxes paid at closing when buying or selling a home, as well as taxes paid to your county or town’s tax assessor (either directly or through a mortgage escrow account) on the assessed value of your property.
SSaad 2 years ago
you can only claim your share of the property (real estate) tax for the time you owned the home.
AAraiz451 2 years ago
You can deduct real estate taxes paid in 2016 on your 2016 tax return (the June and September payments). You can also deduct real estate taxes paid at closing if you are the seller.
SSaqib 2 years ago
Yes you can claim your property tax.