Your Life

Your Life

Major life milestones often have a major tax impact. Changes in your marital status, having a baby or adopting a child can have significant impact on your taxes. This is the place to ask questions about dependents, real estate, and other various scenarios that play a significant role in what taxes you pay.

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Valued Pioneer
Posts: 3
Registered: ‎04-07-2018

escrow vs actuals paid

I noticed that there is a small difference between the entire amount I paid to the escrow account for property tax and the actual that was paid to the borough. Can anybody tell me which should I use ?  I had a change in servicer and the previous servicer did not send me the 1098 and the number from the new one is missing one quarter.

 

Thanks

Council Member
Posts: 516
Registered: ‎04-06-2016

Re: escrow vs actuals paid

The deductible amount would be the actual amount that was paid on your behalf to the taxing agency, not the amount you paid into escrow.  You may be able to see a copy of your actual tax bill if you search for property tax records for your borough.

 

Karen