NY
2007-04-02 09:27:58 · 6 answers · asked by B 5 in Business & Finance ➔ Taxes ➔ United States
I'm talking about what I paid when I purchased my house.
2007-04-02 09:45:16 · update #1
Mortgage interest and tax are both deductible if you itemize your deductions.
2007-04-02 10:21:23 · answer #1 · answered by Ola 4 · 0⤊ 0⤋
If you Itemize you deductions rather than taking the Standard deduction for your filing status, you can claim the mortgage interest and property tax that you paid in 2006. You must be itemizing to deduct this from your return.
2007-04-02 17:09:04 · answer #2 · answered by Rob 7 · 1⤊ 0⤋
There is NO such thing as a 'mortgage tax'. You may have paid part of the 'Property Tax' at closing. If that is true, you can include that in the property taxes you claim as an itemized deduction on your Federal return.
2007-04-02 19:43:54 · answer #3 · answered by STEVEN F 7 · 1⤊ 1⤋
Property tax and mortgage interest are usually deductible. Ask your mortgage lender to send you a statement of the amount of taxes and interest you've paid in 2006.
2007-04-02 16:34:05 · answer #4 · answered by pretty_polynesian_baby13 2 · 1⤊ 0⤋
Mortgage interest & property taxes are deductible. However if your itemized deductions are less than the standard deduction, you will take the standard deduction instead.
2007-04-02 17:14:29 · answer #5 · answered by JessicaRabbit 6 · 0⤊ 0⤋
Your annual interest should be....
2007-04-02 16:31:50 · answer #6 · answered by Samantha 1 · 0⤊ 0⤋