Question

I have a question about escrow account taxes. Can I deduct property tax that was paid from an escrow account?

Answer

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 Topics

Related Resources

Georgia State Tax

Learn more about Georgia tax pertaining to due dates, how to pay and how much you may owe, with help from the tax pros at H&R Block.

Apply or Renew Your ITIN Through a Certified Acceptance Agent

Learn how to apply for or renew your Individual Taxpayer Identificaiton Number (ITIN) through a Certified Acceptance Agent with this article from H&R Block.

Number of Dependents

Does the number of dependents on your W4 need to match the number on your tax return? Learn more and get tax answers from H&R Block.

Resident Alien Taxes

Learn more about resident alien taxes with advice from the tax experts at H&R Block.