Reale Estate Treks » Tax Payments http://realestatetreks.com Home Buying Treks Sat, 11 Feb 2012 00:25:20 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 How do deduct real estate taxes on 1040a? http://realestatetreks.com/how-do-deduct-real-estate-taxes-on-1040a/ http://realestatetreks.com/how-do-deduct-real-estate-taxes-on-1040a/#comments Thu, 12 Feb 2009 19:18:03 +0000 Home Buying Treks http://realestatetreks.com/how-do-deduct-real-estate-taxes-on-1040a/102/
petersruby20 asked:


I purchased a home in October, 2007. My monthly mortgage payment includes my county, state, and school taxes (they are placed in Escrow).

Apparently my tax payments will be paid out of escrow in April, May and August of 2008.

Does that mean that I can not claim real estate for my 2007 return?

(At closing, I did have to reimburse the seller for real estate taxes he had already paid up to Dec. 31.)

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