The insurance is so high in Florida after the hurricanes, we need to be able to deduct it on our income tax return.
2007-01-24 11:49:55 · 4 answers · asked by mossy1936 2 in Business & Finance ➔ Insurance
good luck with that. It's pretty miserable here in Texas, and you can't deduct it here, either.
2007-01-24 12:04:58 · answer #1 · answered by Anonymous 7 · 0⤊ 0⤋
i'm not up on all this the two as we basically bought yet another condo sources in could of 2007. we could desire to record the lease as earnings even regardless of the undeniable fact that the lease is paying the own loan too. yet we are able to declare the acquisition cost of the valuables, plus interest paid. i might seek for suggestion from with a tax guy or woman....we can %. our accountants techniques this 12 months this is for effective.
2016-12-16 16:40:10 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No. Unless it's on a rental unit. Then you can deduct that as an expense to offset the income of the rental.
2007-01-24 12:15:45 · answer #3 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
Not on Federal, but I cannot answer about your state's tax system.
2007-01-28 09:41:34 · answer #4 · answered by nurse ratchet 6 · 0⤊ 0⤋