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how do I claim property taxes

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Guest	Posted: Wed Feb 16, 2011 8:38 am    Post subject: how do I claim property taxes Like 0 Dislike 0 How do I claim my property taxes on my income tax if they are not a part of my monthly payments? I pay them separately at the end of each year.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Wed Feb 16, 2011 10:25 am    Post subject: Like 0 Dislike 0 Guest, you simply need to maintain proper records that reflect how much you paid in property taxes. When a borrower pays into an escrow account, there's no magic involved relevant to income tax deductions insofar as the property taxes are concerned. All a lender is going to do is inform a homeowner/borrower of the amount paid out in property taxes. It's still up to the individual taxpayer to claim the deduction with the IRS. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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