Property Tax deductions?

[Gabriel_S]

Hi All,

Well still waiting for my home foreclosure. Have not received any foreclosure notices yet. Question is this. I'm doing my tax return. The last payment i made on my home was April 2009. BOA set up an escrow and has been paying my property taxes and adding it to my escrow as a negative balance. Turbo Tax is reminding me that even though the banks sometime pays your property taxes it is still MY expense.

Does anyone have any experience with this? I'm not sure if this is something I need to claim or not. I suppose legally I still own the home even though it has not been reaffirmed and am behind on my payments.

Don't want to claim it only get in trouble next year. I am planning on moving back with my ex very shortly.

Thanks in Advance
Gabriel

[fltoo]

We are known as cash basis taxpayers meaning you can only deduct something if you paid for it.

Did your lender send you a statement of any tax that you paid last year? If so, you can deduct that amount only.

Even if you plan on saving your house and paying all the back taxes, you still cannot deduct them until you actually pay them.

[Gabriel_S]

Hi Fltoo, thanks for the response. That is pretty much what I figured as well. Just wanted to be certain.