Property Tax Deduction - Seller gave me tax credit @ closing? - Freemason Hirams Travels Masonic Forums

#1 (permalink)

03-06-2008, 12:52 PM

Proactive M

Member

Join Date: Mar 2008

Posts: 1

Rep Power: 0

Property Tax Deduction - Seller gave me tax credit @ closing?

I bought a home in 2007 in the state of Texas. At closing seller gave me 2007 tax credit 2034. My 2007 tax bill was 2567.57.

(1) Should I report 2034 as income? It was applied to my closing costs though.

(2) Also on my 2007 tax deduction how much can I deduct for property taxes? Thanks

Bookmarks

« Is there a Spanish line to apply for Juniper Visa Credit Card? | [Singapore] Can i use a Debit Card to make purchase or pay bills online,just like... »

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Posting Rules
You may not post new threads You may not post replies You may not post attachments You may not edit your posts BB code is On Smilies are On [IMG] code is On HTML code is Off Trackbacks are On Pingbacks are On Refbacks are On

Forum Jump

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Deduction of foreign property tax and mortgage secured on foreign property?	Rick C	Taxes	0	03-10-2008 02:07 PM
Purchasing property with 20% down the seller owes me, is it still 100%...	jexter71	Business & Finance	0	03-03-2008 12:16 AM
In a short sale, can you ask the seller to pay for your closing cost??	Alexander N	Marketing & Sales	0	03-01-2008 01:39 AM
My husband and I put an offer in on a Short Sale property, but the seller	T. S	Marketing & Sales	0	02-28-2008 09:08 PM
My husband and I put an offer in on a Short Sale property, but the seller...	T. S	Marketing & Sales	0	02-28-2008 02:44 PM

All times are GMT -5. The time now is 11:06 PM.