|
Posted by ed on March 1, 2007, 7:25 am
Please log in for more thread options > usm...@gmail.com wrote:
>> I bought my house at 09/2005, and use Escrow service
>> provided by wellsfargo to pay property tax. due to the
>> ignorance of wellsfargo, they didn't pay the property tax of
>> 2005 for me until Jan 2006. As a result, in the form they
>> sent, for year of 2006, the total amount of property tax
>> paid is actually 2005 tax amount (7000) + 2006 tax amount
>> (7000) = 14000... should I just use this number $14000 for
>> my tax return? (I didn't do any itemization last year)
> Take the deduction at the year it was paid. In this case
> yes, take all of $14,000 for your 2006 tax return.
I wold think this would be to your advantage because if you
didn't itemize in 2005 you wouldn't get the full advantage
of the deduction in 2005. However, did they account for
your taxes to NOT include taxes prior to date of your
purchase?. Since they report both years the same it looks
like they included prior owner's tax.
ed
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
| 
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap