I have a question about escrow account taxes. Can I deduct property tax that was paid from an escrow account?
A escrow account is used in real estate to pay property taxes and insurance. Escrow accounts are set up by your mortgage lender. You can deduct your escrow account taxes but only the amount of taxes you in that given tax year.
Related Resources
If you need help handling an estate, we're here to help. Learn how to file taxes for a deceased loved one with H&R Block.
Here are the top tax questions our professionals got this year – with answers for you! How can you use this? Read on to get answers from H&R Block.
Unfortunately, the cost of your engagement ring can't be deducted as a write-off on your personal income taxes. H&R Block tax pros explain why.
What is a CPA, and how can one help you with preparing your taxes? Understand the role of a certified public accountant with the experts at H&R Block.
