Do I include my Real Estate Taxes on my tax return?

I pay my real estate taxes through escrow through my mortgage company. Do I still include the amount of taxes that I paid on my tax return?

Public Comments

1. Yes. They will either be added to your itemized deductions on Schedule A or they will be added to your standard deduction. The amount added to your standard deduction is either $1000 or the amount you actually paid, whichever is smaller.
2. Yes this year you can add the real estate taxes to your standard deduction if you can not itemize. Christine This advice was prepared based on our understanding of the tax law in effect at the time it was written as sit applies to the facts that you have provided. http://www.hrblock.com/taxes/tax_tips/index.html http://www.hrblock.com/taxes/tax_calculators/index.html
3. Shawn - Yes, if you itemize deductions, you can include Real Estate Taxes on your primary residence on your tax return. You can also include them in your standard deduction but, depending on the amount, you may be better off itemizing. It sounds like this is your first year that you'll be able to itemize. These things can sometimes get tricky. You may want to talk to a tax professional to have them assist you in preparing your tax return. You could try the site below...I found it very helpful and they are extremely fast and friendly. They are CPA's but I think they moonlight and prepare taxes so they have "day jobs"...it's not like they are doing it for the money. They're just trying to help people out. Also, their rate can't be beat...last year, I paid something like $50 and they prepared my return for me and got me the refund fast. I didn't even have to do too much work...just sent them the forms I received in the mail (W-2, etc.) and I was done!
4. Yes you can deduct real estate taxes as Itemized Deduction on Schedule A. NAIKE TAX ACCOUNTANT http://ww.naike-careercoachville.com
5. Yes, your real estate taxes is a deduction on your tax return. However, the amount you paid to the escrow account is not deductible until the money is paid from the escrow account to the government.
6. Absolutely! You paid the money into escrow. Be sure to check if the standard-deduction-plus-RE-tax-deduction is higher than itemizing. You don't necessarily need to itemize to receive benefit for real estate taxes you paid.
7. For your home property, even ff you don't itemize, you can still deduct up to $500 ($1000 on a joint return) of real estate taxes paid - there's a worksheet, and you add it to the standard deduction. Mortgage interest deduction is itemized deduction. You will take deduction only if your itemized deductions are more than your standard deduction..Read: http://taxipay.blogspot.com/2008/05/itemized-deductions.html
8. Yes, paying them through escrow is still you paying them. This year even if you don't itemize you can deduct up to $500, or $1000 on a joint return, along with your regular standard deduction.