Archive for the ‘United States’ Category
Is interest from a home purchased through a Bank loan tax deductible?
sukcorb asked: I recently purchased a home through a Bank Loan. Will the interest paid on the loan this year be tax deductible?
How does doing a cashout refi or home equity loan affect AMT risk?
P-Dawg asked: We will be remodeling/adding on to our home and want to do a cashout on the first mortgage (of around $60,000) and then do a 2nd (Equity loan) for the rest…does doing this put us at greater risk for having to pay AMT taxes and if so, in what way (which lines in [...]
I purchased land in 2006 with a bank loan. What can be claimed on my tax return?
mwaynew57 asked: I paid a deposit of 500.00 and a down payment of 9,000.00 for a 24,000.00 parcel, The closing costs totalled 566.00. I have yet to receive an interest statement. I have made seven payments on the loan. I’m new at this and have always had a simpler situation.
Home equity loan interest is tax deductible?
jc2e1028 asked: I have two mortgages - one for primary residence and one for investment property. I know that interest payment on both loans are tax deductible. But if I get a home equity loan against my primary home to pay off my high-interest car loan, the interest on this home equity loan [...]
Is a Home Equity Line of Credit or Home Equity Loan used to buy a second home tax deductible beyond $100,000?
Evan asked: Would a Home Equity Line of Credit or loan used to buy a home be considered a Home Aquisition Debt instead of a Home Equity Debt?