Can i deduct sellers portion of the real estate taxes? Greetings,
We purchased a new home in 2015, and we paid 3900 dollars in property taxes in December. At closing, we were credited by the seller for his portion which was 1950 because we closed exactly middle of the year. The tax bill that was sent to us was for the entire amount, but I wonder how much of this we can put on Schedule A, is it the entire amount, or does it have to be reduced by the amount credited on the HUD for the seller's portion.
Thank you
BL |