For federal earnings tax purposes, the vendor is treated as paying the property taxes as a lot as, but not including, the date of sale. You are handled as paying the taxes starting with the date of sale. Generally, this info is included on the settlement assertion you get at closing. If you are a minister or a member of the uniformed companies and obtain a housing allowance that isn’t taxable, you’ll have the ability to still deduct your real estate taxes and your house mortgage interest. You don’t have to reduce your deductions by your nontaxable allowance. 517, Social Security and Other Information for Members of the Clergy and Religious Workers, and Pub.
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