LIFamilies.com - Long Island, NY


RSS
Articles Business Directory Blog Real Estate Community Forum Shop My Family Contests

Log In Chat Index Search Rules Lingo Create Account

Quick navigation:   

Question on property taxes paid & income taxes

Posted By Message

ElizaRags35
My 2 Girls

Member since 2/09

20494 total posts

Name:
Me

Question on property taxes paid & income taxes

DH and I were doing our taxes last night and one of the sections was on property taxes paid. Now I could have sworn paid some sort of property tax either at closing or shortly thereafter because we had to make sure we had enough money in escrow since the taxes are paid with our mortgage (is that even right?)

The tax form we got from the mortgage company did not have a section for property taxes. I logged onto Wells Fargo and it says we paid $0. How can I find out if we paid or not?

Thanks!

Posted 4/11/12 11:00 AM
 
Long Island Weddings
Long Island's Largest Bridal Resource
  |   Prudential Douglas Elliman Real Estate

bea559
LIF Toddler

Member since 11/10

457 total posts

Name:

Re: Question on property taxes paid & income taxes

We ran into this same issue...and decided to go to an accountant this year.

I believe he only put the RET we paid in Dec out of our mortgage escrow account.

He did not take into consideration the prorated RET amount we paid at closing, as that was "credited to seller."

Hope this helps!

ETA: we closed in mid June 2011.

Message edited 4/11/2012 11:27:40 AM.

Posted 4/11/12 11:26 AM
 

Cheeks24
Living a dream

Member since 1/08

8589 total posts

Name:
Cheeks

Re: Question on property taxes paid & income taxes

You definitely would have had to pay taxes at closing. We had to pay plus put 6 months in eskrow. It should be in the papers you signed at closing.

ETS: You would also have a receipt from your town/county that it was paid.

Message edited 4/11/2012 11:35:30 AM.

Posted 4/11/12 11:35 AM
 

ElizaRags35
My 2 Girls

Member since 2/09

20494 total posts

Name:
Me

Re: Question on property taxes paid & income taxes

Great! Thanks! I'll check out my papers tonight!

Posted 4/11/12 11:53 AM
 

ElizaRags35
My 2 Girls

Member since 2/09

20494 total posts

Name:
Me

Re: Question on property taxes paid & income taxes

I decided to check out Town of Brookhaven's site and you can look at your tax bill on line and it turns out we paid the first half in 2011 and when I entered the amount into Turbo Tax, we now get a (small) refund instead of owing!!

Posted 4/11/12 12:19 PM
 
 

Potentially Related Topics:

Topic Posted By Started Replies Forum
Working Moms or anyone who knows about taxes & Income Tax Question? hazeleyes33 10/23/07 18 Families Helping Families ™
first time homeowner w/ a question about income taxes??? TwoGirls4Me 8/15/06 4 Home
Question regarding property taxes ljd4 3/13/12 12 Home
Not sure if this is where I should ask, but a question about taxes & property TiggerBounce 2/2/12 1 Home
Question about property taxes lovemy2boys 6/20/09 2 Home
Question about property taxes? nicrae 2/14/09 1 Home
 
Quick navigation:   
Currently 350497 users on the LIFamilies.com Chat
New Businesses
1 More Rep
Carleton Hall of East Islip
J&A Building Services
LaraMae Health Coaching
Sonic Wellness
Julbaby Photography LLC
Ideal Uniforms
Teresa Geraghty Photography
Camelot Dream Homes
Long Island Wedding Boutique
MB Febus- Rodan & Fields
Camp Harbor
Market America-Shop.com
ACM Basement Waterproofing
Travel Tom

      Follow LIWeddings on Facebook

      Follow LIFamilies on Twitter
Long Island Bridal Shows