Author Topic: Property Tax Payment Timing Question (US)  (Read 1127 times)

ILoveMyBlondeStache

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Property Tax Payment Timing Question (US)
« on: January 22, 2015, 06:26:01 AM »
Hello everyone,

I'm a bit ashamed to admit I don't know the answer to my fiance's question...I'm a CPA afterall, but I don't do anything with personal taxes so I'm an average Joe when it comes down to that.

He had sent a fax on December 22nd to the mortgage company asking them to send the tax payment to the city by the 31st to include it on his 2014 taxes.  He has a copy of the fax confirmation. Time passes by...and yesterday he was like, "Hey I never got a receipt saying my taxes got paid."  So he called the city and they said they "received" the payment on January 12th. But he received a statement from the mortgage company saying the money was withdrawn on December 31st to make the payment.

So my question for you tax gurus is this:  what is the correct year to claim these property taxes as paid? 

Thanks in advance!
« Last Edit: January 22, 2015, 07:52:29 AM by ILoveMyBlondeStache »

DoNorth

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Re: Property Tax Payment Timing Question (US)
« Reply #1 on: January 22, 2015, 07:06:33 AM »
If it's included on the tax mortgage statement that the mortgager provides him, then he can include it in his 2014 taxes.  The form should say how much interest and property taxes he paid. 

Timmmy

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Re: Property Tax Payment Timing Question (US)
« Reply #2 on: January 22, 2015, 09:45:33 AM »
If it's included on the tax mortgage statement that the mortgager provides him, then he can include it in his 2014 taxes.  The form should say how much interest and property taxes he paid.

This

If it's paid through escrow you are stuck with what the bank says. 

Get those tax payments out of escrow so you have the control.