Mello-Roos Tax Deductible

[pencilneck]

I stand corrected. For most practical purposes there are 3 and 6 year statutes of limitations. 3 Years for general audits, 6 if they suspect fraud, and another statute of limitations at 10 years for something else that I don’t quite understand.

Yes, I come to this board to publicly display my ignorance. I’m learning a lot though. Thanks all!

[pencilneck]

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[temeculaguy]

Are your “mello roos” incorporated into your tax bill or is it a separate bill? Is the only way to figure it out is to look at your itemized bill and that if you had an impound account your lender pays it and reports to you on your 1098, in the tax column, the taxes inclusive of the mello roos?

Whatever the dollar amount is on the 1098 reported by your lender as the “property taxes paid” I say you go with that number, that is the number the irs computer will be looking to match their data with your return.

If it is excluded on your 1098, like an hoa would be, then you are asking for attention and can’t play stupid when caught.

[temeculaguy]

Are your “mello roos” incorporated into your tax bill or is it a separate bill? Is the only way to figure it out is to look at your itemized bill and that if you had an impound account your lender pays it and reports to you on your 1098, in the tax column, the taxes inclusive of the mello roos?

Whatever the dollar amount is on the 1098 reported by your lender as the “property taxes paid” I say you go with that number, that is the number the irs computer will be looking to match their data with your return.

If it is excluded on your 1098, like an hoa would be, then you are asking for attention and can’t play stupid when caught.

[temeculaguy]

Are your “mello roos” incorporated into your tax bill or is it a separate bill? Is the only way to figure it out is to look at your itemized bill and that if you had an impound account your lender pays it and reports to you on your 1098, in the tax column, the taxes inclusive of the mello roos?

Whatever the dollar amount is on the 1098 reported by your lender as the “property taxes paid” I say you go with that number, that is the number the irs computer will be looking to match their data with your return.

If it is excluded on your 1098, like an hoa would be, then you are asking for attention and can’t play stupid when caught.

[temeculaguy]

Are your “mello roos” incorporated into your tax bill or is it a separate bill? Is the only way to figure it out is to look at your itemized bill and that if you had an impound account your lender pays it and reports to you on your 1098, in the tax column, the taxes inclusive of the mello roos?

Whatever the dollar amount is on the 1098 reported by your lender as the “property taxes paid” I say you go with that number, that is the number the irs computer will be looking to match their data with your return.

If it is excluded on your 1098, like an hoa would be, then you are asking for attention and can’t play stupid when caught.

[temeculaguy]

Are your “mello roos” incorporated into your tax bill or is it a separate bill? Is the only way to figure it out is to look at your itemized bill and that if you had an impound account your lender pays it and reports to you on your 1098, in the tax column, the taxes inclusive of the mello roos?

Whatever the dollar amount is on the 1098 reported by your lender as the “property taxes paid” I say you go with that number, that is the number the irs computer will be looking to match their data with your return.

If it is excluded on your 1098, like an hoa would be, then you are asking for attention and can’t play stupid when caught.

[svelte]

When I lived in a MR district, we put the MR tax on our tax return every year, as did our neighbors. At the time, my understanding was that if the tax was to pay for something that would benefit only the MR district residents (ie, a private pool, private roads, etc), then it was not tax deductible. Since this was not the case, we deducted it. As TG points out, it showed up on our 1098 in the “taxes paid” figure and was not a separate tax bill. I just took that 1098 number and plopped it into TurboTax.

All of our neighbors at the time did the same thing. I never heard of anyone getting audited, but then again the MR was not high and I think the difference it made in the taxes we paid was minimal. I didn’t spend any time worrying about it because I didn’t realize there was controversy about it’s deductibility beyond the private vs public as stated above.

I agree with TG that it would probably look suspicious if the number you claim for prop taxes paid did not match what the 1098 says, since I’m sure the IRS has software that tries to match those numbers up.

This whole issue is moot here at our current house, so I don’t even have to think it through any more.

Excellent thread. These are the types of post that make this such a wonderful place to visit.

[svelte]

When I lived in a MR district, we put the MR tax on our tax return every year, as did our neighbors. At the time, my understanding was that if the tax was to pay for something that would benefit only the MR district residents (ie, a private pool, private roads, etc), then it was not tax deductible. Since this was not the case, we deducted it. As TG points out, it showed up on our 1098 in the “taxes paid” figure and was not a separate tax bill. I just took that 1098 number and plopped it into TurboTax.

All of our neighbors at the time did the same thing. I never heard of anyone getting audited, but then again the MR was not high and I think the difference it made in the taxes we paid was minimal. I didn’t spend any time worrying about it because I didn’t realize there was controversy about it’s deductibility beyond the private vs public as stated above.

I agree with TG that it would probably look suspicious if the number you claim for prop taxes paid did not match what the 1098 says, since I’m sure the IRS has software that tries to match those numbers up.

This whole issue is moot here at our current house, so I don’t even have to think it through any more.

Excellent thread. These are the types of post that make this such a wonderful place to visit.

[svelte]

When I lived in a MR district, we put the MR tax on our tax return every year, as did our neighbors. At the time, my understanding was that if the tax was to pay for something that would benefit only the MR district residents (ie, a private pool, private roads, etc), then it was not tax deductible. Since this was not the case, we deducted it. As TG points out, it showed up on our 1098 in the “taxes paid” figure and was not a separate tax bill. I just took that 1098 number and plopped it into TurboTax.

All of our neighbors at the time did the same thing. I never heard of anyone getting audited, but then again the MR was not high and I think the difference it made in the taxes we paid was minimal. I didn’t spend any time worrying about it because I didn’t realize there was controversy about it’s deductibility beyond the private vs public as stated above.

I agree with TG that it would probably look suspicious if the number you claim for prop taxes paid did not match what the 1098 says, since I’m sure the IRS has software that tries to match those numbers up.

This whole issue is moot here at our current house, so I don’t even have to think it through any more.

Excellent thread. These are the types of post that make this such a wonderful place to visit.

[svelte]

When I lived in a MR district, we put the MR tax on our tax return every year, as did our neighbors. At the time, my understanding was that if the tax was to pay for something that would benefit only the MR district residents (ie, a private pool, private roads, etc), then it was not tax deductible. Since this was not the case, we deducted it. As TG points out, it showed up on our 1098 in the “taxes paid” figure and was not a separate tax bill. I just took that 1098 number and plopped it into TurboTax.

All of our neighbors at the time did the same thing. I never heard of anyone getting audited, but then again the MR was not high and I think the difference it made in the taxes we paid was minimal. I didn’t spend any time worrying about it because I didn’t realize there was controversy about it’s deductibility beyond the private vs public as stated above.

I agree with TG that it would probably look suspicious if the number you claim for prop taxes paid did not match what the 1098 says, since I’m sure the IRS has software that tries to match those numbers up.

This whole issue is moot here at our current house, so I don’t even have to think it through any more.

Excellent thread. These are the types of post that make this such a wonderful place to visit.

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