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    amricca's Avatar
    amricca Posts: 851, Reputation: 92
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    #1

    Mar 24, 2008, 10:40 AM
    Property Taxes
    Are 2007 property taxes, which are actually paid in 2008, deductible in my 2007 return?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Mar 25, 2008, 07:12 AM
    No - only taxes that are actually paid to the municipality in 2007 are deductible in 2007. If you pay your taxes through an escrow account with your mortgage company then the 1098 form you receive from them will show what they actually paid to the town on your behalf in 2007. If you pay your taxes directly to the town yourself then you deduct the amount you actually paid in 2007.

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