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| *Loan,banking and credit>>>income tax |
How do you file an escrow refund on your income taxes? |
How do you file an escrow refund on your income taxes? The mortgage escrow refund is not reportable for taxes. It is simply the return of your money on deposit with your mortgage co. If you deducted the full escrow in the past, then you filed that return incorrectly. Only the actual amount spent on real estate taxes for example are deductible. If your mortgage co pays interest on the escrow, that amount will be taxable interest. |
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