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Form 886-A Deductible Home Mortgage Interest Taxpayer has…

Customer Question
Form 886-A Deductible Home Mortgage...
Form 886-A Deductible Home Mortgage Interest
Taxpayer has $1,000,000 in Grandfathered debt.
Line 9 Form 886-A - is this line amount after deducting the garandfathered debt
Submitted: 7 months ago.Category: Tax
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Answered in 10 minutes by:
11/9/2017
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 7 months ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,442
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

Hi. My name's Lane.

I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice 1986.

...

Since the purpose of Form 886A is to "explain" something, the IRS uses it for many various reasons. Most often, Form 886A is used to request information from you during an audit or explain proposed adjustments in an audit

...

Line 9 on your 886-A will not be the same as line 9 on others.

...

You'll need to let me see (please black out any personally identifying info) the form to know exactly what they're asking

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