Three years ago, after a yes vote by the affected homeowners, our county government billed us $8,000 as our individual assessment to have our dirt road paved. If we didn't want to pay the money all at once, they set us up with a 10-year plan, with interest assessed like mortgages, i.e., payments comprised mostly of interest the first year, down to minimal interest the last year. Question: Is that interest deductible on our Federal Income Tax Return? And if so, how, and could we claim the deduction retroactively? Thanks.
2007-05-03
01:58:33
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4 answers
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asked by
buff
1
in
United States