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Taxpayers Are Allowed to Deduct Real Property Taxes at the Time

Question 21

True/False

Taxpayers are allowed to deduct real property taxes at the time they pay estimated real property taxes to an escrow account established by the lender for the taxpayer's property taxes.The deduction timing is based on when the actual taxes are paid to the taxing jurisdiction,not when the homeowner makes payments for taxes to the escrow account.

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