True
The seller is responsible for all property taxes assessed for the period through the date of sale. The buyer is responsible for all property taxes thereafter. Remember in most states that property tax is paid in arrears which means you are paying for a time period of 3-6 months prior to the current date. On a HUD 1 closing statement those time periods and costs are clearly shown.
If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.
Hi , i just received my tuition statement can i file taxes
Normally the taxes and insurance are included in the payment.
true
Yes, you may need your mortgage statement to file your taxes if you plan to deduct mortgage interest or property taxes on your tax return.
A statement which may be True or False.
false
the government may not impose a tax on church services.
You can deduct mortgage interest and property tax on your taxes by itemizing your deductions on Schedule A of your tax return. You will need to have a mortgage interest statement from your lender and records of your property tax payments to claim these deductions.
True
State income taxes apply only to individuals.
true
Property taxes
Property Taxes
The seller is responsible for all property taxes assessed for the period through the date of sale. The buyer is responsible for all property taxes thereafter. Remember in most states that property tax is paid in arrears which means you are paying for a time period of 3-6 months prior to the current date. On a HUD 1 closing statement those time periods and costs are clearly shown.