2007-02-02 02:37:21 · 5 answers · asked by TRACY C 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
100%.
2007-02-02 02:42:48 · answer #1 · answered by Anonymous · 0⤊ 1⤋
It depends this year on whether or not you are subject to AMT (Alternative Minimum Tax), if you are there is a reduction by a certain percentage based on how much AMT you have. If you are not subject to AMT, it should be the entire amount, also include your real estate tax, and personal property tax if your State is so inclined.
good luck & blessing
2007-02-02 10:43:29 · answer #2 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋
its 100% deductible as long as the amount of the loan is not more than $1M. If it is - just compute for the pro-rata share. (this of course means you will have to itemize your deductions)
2007-02-02 14:03:53 · answer #3 · answered by Raziel L 1 · 0⤊ 0⤋
Get turbo tax, best 36 bucks you will ever spend!
2007-02-02 10:44:58 · answer #4 · answered by AA 3 · 0⤊ 1⤋
All of it, if you itemize.
2007-02-02 10:40:07 · answer #5 · answered by A.C.Girl 4 · 0⤊ 1⤋