Archive for the ‘United States’ Category
if i get home loan secured in this taxable year, can i deduct interest payments made before loan secured?
Elizabeth K asked:
my parents helped my husband and i purchase a home this year. we have a loan agreement with them and have been making payments of principal and interest since june of this year. the loan is not secured on the home. the home mortgage interest deduction for federal personal income taxes requires that the loan be secured on the property. if i get the loan secured before the end of this taxable year, can i deduct all interest payment made this year even if they were made before the home was secured?
my parents helped my husband and i purchase a home this year. we have a loan agreement with them and have been making payments of principal and interest since june of this year. the loan is not secured on the home. the home mortgage interest deduction for federal personal income taxes requires that the loan be secured on the property. if i get the loan secured before the end of this taxable year, can i deduct all interest payment made this year even if they were made before the home was secured?
Tax deductible? Cash-out refi vs. HELOC vs. Equity loans?
P-Dawg asked:
My wife and I are planning a major remodel which will start in around 2 1/2 months…we are having trouble finding info on the differences between cash-out refi vs. HELOC vs. Home equity loans vs. typical refi as far as what the differences are as far as how tax deductible they all are (interest paid, etc)…any info or links with info to help us out?
My wife and I are planning a major remodel which will start in around 2 1/2 months…we are having trouble finding info on the differences between cash-out refi vs. HELOC vs. Home equity loans vs. typical refi as far as what the differences are as far as how tax deductible they all are (interest paid, etc)…any info or links with info to help us out?



