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Visitor II

Property Tax Credit at Settlement for Pre-Paid Taxes

Hi -

 

I recently sold my home in Spring 2018 and received a property tax credit at settlement for pre-paid taxes into 2018.  These pre-paid property taxes had been fully deducted on my 2017 tax forms.  Since I received money back, do I:

 

(A) Amend my 2017 taxes, subtracting out the credit amount I received at settlement

(B) Subtract the tax credit amount when I fill out my 2018 taxes

(C) Do nothing

 

Thanks in advance!

1 Comment
TurboTax Specialist

Property Tax Credit at Settlement for Pre-Paid Taxes

Record as Miscellaneous Income on your 2018 taxes for the reimbursement of a prior year deduction.