I paid off my mortgage during 2001. Our property taxes were due in two equal installments in Sept and Dec. The mortgage co. made the first payment in Sept. and reported that amount on the 1099 which also shows mortgage interest paid. I made the second payment in Dec. directly to the county. When I claim the total amount on my 2001 return as an itemized deduction, will there be a problem with the IRS because the 1099 from the mortgage co. only shows half of the amount? Thanks for any help. Dave
Some people pay their own property taxes, instead of keeping an escrow account with the mortgage company and having them pay for it. For this reason, the IRS does not expect that all 1098's will have the property tax payments. Just keep good records - property tax receipt statements that they've been paid (before end of year).
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