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Message
IRS - Real estate tax deduction
Posted on 1/19/14 at 4:23 pm
Posted on 1/19/14 at 4:23 pm
In preparation for 2013 filing, I had a quick question I hope the MT could answer.
I bought a house in February 2013, and I paid the seller, at closing, the real estate taxes for February through December. My problem is, I have no document other than the notarized settlement statement.
Is this good enough to claim or do I need some other supporting document?
Thanks - FT
I bought a house in February 2013, and I paid the seller, at closing, the real estate taxes for February through December. My problem is, I have no document other than the notarized settlement statement.
Is this good enough to claim or do I need some other supporting document?
Thanks - FT
2
Posted on 1/19/14 at 5:10 pm to Federal Tiger
The HUD-1 is the gold standard for substantiating payments of any kind. You can report the amount of property tax paid by purchaser that is reflected on the closing statement.
Posted on 1/19/14 at 5:27 pm to Poodlebrain
I assume this applies to land/lots as well?
Posted on 1/20/14 at 2:25 pm to Federal Tiger
Are you sure you paid taxes in advance? Most real estate taxes are paid in arrears.
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