Tax deductions: Mortagage

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rsk12
Member since: Dec 06

Posts: 275
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Post ID: #PID

Posted on: 20-01-08 10:03:26

Hello group

Can some one please answer my question regardging individual income tax filing.

I bought a house in Nov 2006 and I have been paying mortgage for the house since. I was wondering if I could claim these payments as deductions against by personal income while filing taxes.

Thank you

dimple2001
Member since: Apr 04

Posts: 2873
Location: Western Hemisphere
Post ID: #PID

Posted on: 20-01-08 11:48:40

Short answer:

If your house is not used to earn income (as a location of business), then no, you cannot take mortgage deductions.

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Dimple2001

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