Deduct property taxes on home?

[ssc2761]

My 2nd home has been sitting there with no payments made on it since 2/2009. I had talked about this with another poster, but am not sure of the correct answer. The bank continues to make the property tax payments. Since the house is still under my name and so is the property tax bill, then can I deduct those taxes paid on my tax return? I did deduct them last year. When I called the assessors office and asked what is the amount of property taxes I paid in 2010 (even though I technically did not pay them myself), they told me what I had paid, which obviously matched the tax bill. Now I am wondering if I can really deduct them like I did last year. Any responses or insight is greatly appreciated. Thanks!!

[tobee43]

only if YOU rec'd the 1098.....which if the bank paid the entire amount this past year it would be reported to the irs that the bank paid it not you.

what gets a bit confusing is this...i know our first year in foreclosure, we did rec a 1098 from the bank....and the tax amount did, in fact, the tax amount was paid from the escrow account...which of course came from us.

the following year...( and it's been 3 tax years now)...we rec'd nothing ...of course we paid nothing either...what gets a bit confusing is when most banks foreclose the fees and costs are included with the total amount due....however, ususally, that is past on to the new owners if you surrendered the house...

i would NOT deduct them if you did not rec the 1098....

good luck!

[slam22]

My 2nd home has been sitting there with no payments made on it since 2/2009. I had talked about this with another poster, but am not sure of the correct answer. The bank continues to make the property tax payments. Since the house is still under my name and so is the property tax bill, then can I deduct those taxes paid on my tax return? I did deduct them last year. When I called the assessors office and asked what is the amount of property taxes I paid in 2010 (even though I technically did not pay them myself), they told me what I had paid, which obviously matched the tax bill. Now I am wondering if I can really deduct them like I did last year. Any responses or insight is greatly appreciated. Thanks!!

Short answer is if you did not actually pay them yourself then you are not allowed a deduction for them.

[tobee43]

Short answer is if you did not actually pay them yourself then you are not allowed a deduction for them.

that 2....LOL!!

[ssc2761]

Makes sense, I just thought maybe just maybe I could deduct them again.

[goodyphilips]

well i must say you have been a bit lucky but do not try to stretch your luck too far.