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Author: tjfields Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121177  
Subject: Quick property tax question Date: 1/18/2002 12:46 PM
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I have searched all over this board and the "Buying and Selling a Home" board for the answer to this (which I swear I've seen posted), but to no avail.

My 2001 "winter" property tax (we get assessed twice in MI) was paid out of my escrow account on 12/27/2001, but was not posted until 1/9/2002.

Question/Clarification 1: I assume this means that I will not be able to take a schedule A deduction for this until my 2002 filing?

Question/Clarification 2: As a result of this year-end straddling, the statement sent to me (and therefore the IRS) from my mortgage company over-represents my 2001 property tax payments by the amount of this in-flight payment. Will this be an "audit trigger" in 2002, as it will seem to the IRS that I will have claimed "too much" property tax in 2002, even though I will have claimed "too little" in 2001?

Thanks for any and all help -

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