Deducting A % Of Your House Payment?

JeepGirl6 · #1 03-06-2011, 09:03 AM

On Turbo Tax is there a deduction for a % of my house payment, I pay $771.00 a month

snbauser · #2 03-06-2011, 10:51 AM

Quote:

Originally Posted by JeepGirl6

On Turbo Tax is there a deduction for a % of my house payment, I pay $771.00 a month

I believe if you have a mortgage you can only deduct a % of your mortgage interest, not your actual payment. If you rent, then you can deduct a % of your rent.

TomCopeland · #3 03-06-2011, 01:37 PM

You can't deduct the house payment but you can deduct the time-space % of your mortgage interest and you can depreciate your home.

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