Mortgage Tax Deduction
November 22nd, 2009
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Question: Can you apply all of your mortgage interest as a tax deduction if you refinanced more than the original loan?
The cash out was not used for home improvement, but I am not subject to the AMT.
Does the rule that you can only apply the cash out interest used for home improvement only apply in AMT circumstances?
Answer: Yes, this little know portion of the tax law only kicks in under AMT.
Items on Amazon Right Now for Mortgage Tax Deduction:
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TurboTax Home & Business Federal + State + Federal efile 2009 $42.90 TURBOTAX HOME & BUSINESS WITH… |
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Last Minute Tax Reminders
COLUMBUS, GA (WTVM)-The clock is ticking toward the new year which means time is running out for consumers to make the most of their Tax Deductions for 2009.
Ending the mortgage tax deduction
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