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Tax return question about mortgage interest deduction. 2018.
Tax return question about mortgage interest deduction … read more
Carter McBride
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I bought a home in 2017 with a mortgage of 800K on
I bought a home in 2017 with a mortgage of 800K on 12/27/2017 the original bank transferred my loan to another bank and then in 2018 that happened again with two other banks. on the 1098 the second ba… read more
Stephen G.
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I know there is a limitation on how much mortgage interest
I know there is a limitation on how much mortgage interest you can write off...it's a $1,000,000. Does that still apply if you sold one house during the year and bought another?… read more
Lev
Lev
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HOME OFFICE DEDUCTION Does the IRS permit both spouses to
HOME OFFICE DEDUCTION Does the IRS permit both spouses to each take a home office deduction if each separately qualifies? Is each spouse allowed to use the same household expenses to calculate their r… read more
Lev
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BackgroundI am looking for someone intimately familiar with
Background I am looking for someone intimately familiar with the ins and outs of electing to treat a home mortgage as NOT SECURED by the home, so that i can schedule C all of the interest as fully ded… read more
BK-CPA
BK-CPA
Bachelor's Degree
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I recently recieved a notice from the Irs for my 2007 income
I recently recieved a notice from the Irs for my 2007 income taxes. They stated that I may have deducted excess home mortgage interest. It states IRS code section 163 limits the amount of interest ded… read more
Merlo
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Hi. I own my home in NJ with my domestic partner. We are
Hi. I own my home in NJ with my domestic partner. We are both on the mortgage and the deed. We have had a CPA do our taxes for the past 5 years, but have chosen to do them ourselves this year. I am a … read more
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I had an option-arm loan. In 2009 I renegotiated the repayment
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Jon Andrews
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My ex-wife is currently living in a condo that we have joint
My ex-wife is currently living in a condo that we have joint ownership and a joint mortgage upon. We were officially divorced in July 2009. I have not lived in the residence since June 2008. What can … read more
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I purchased a home with my girlfriend in 2009 and I already
I purchased a home with my girlfriend in 2009 and I already applied and had my 2008 tax amended for the home-buyer credit since I am a first-time buyer. Now that our 2009 taxes are coming up how do we… read more
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I am preparing my 2008 tax returns due under extension on 10-15-09.
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In 2007 I closed a graphics business that I ran out of my home.
In 2007 I closed a graphics business that I ran out of my home. I used Turbo Tax for 2007 and 2008. There is a Carryover of Unallowed Expense to 2009 of $2300 on Form 8829 (Expenses for Business Use o… read more
Arthur Rubin
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1099-A or 1099-C for Mortgage Forgiveness Debt Relief Act?
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I just did my taxes for 2007 and I owe $12,000. How much will
I just did my taxes for 2007 and I owe $12,000. How much will I have to pay extra for a fine and interest to the IRS?… read more
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When are you required to pro-rate the interest and tax ...
Greetings, If all of your mortgages fit into one or more of the following three categories at all times during the year, you can deduct all of the interest on the mortgages: Mortgages you took out on … read more
jgordosea
jgordosea
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Bachelor's Degree
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I recently paid off my mortgage. We make 80K a year. Now I ...
I recently paid off my mortgage. We make 80K a year. Now I don''t have a major tax deduction. Would it be wise to invest in a second home or condo for the tax deduction on a loan...thanks… read more
jgordosea
jgordosea
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I asked a question here the other day and received helpful ...
I asked a question here the other day and received helpful information. Thank you. I have an another question: I will be purchasing my parent's home in WA State. My mother will be in a wheelchair soon… read more
RD
RD
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Master's Degree
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I have a primary mortgage on my house for 56000 and I ...
I have a primary mortgage on my house for 56000 and I just refinanced a home equity line of credit loan for 106000 and my house was appraised for 169000. Will I be able to deduct all my interest for m… read more
Jon Andrews
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