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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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Are the lawyer fees associated to a mortgage modification tax

Resolved Question:

Are the lawyer fees associated to a mortgage modification tax deductible?
Submitted: 7 years ago.
Category: Tax
Expert:  Merlo replied 7 years ago.

Hello MBurns,


Points which you pay to buy down the interest rate on a loan modication are deductible in the year they are paid. However, lender fees, attorney fees, and other settlement costs cannot be deducted.


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Thank you MBurns



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