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Daycare and Taxes>Home Refinance
Brustkt 06:09 PM 04-07-2014
Hi Tom,
We refinanced our home for a better mortgage rate last year. Can we deduct the cost of our refinance? It was a few thousand dollars.
Thanks.
We refinanced our home for a better mortgage rate last year. Can we deduct the cost of our refinance? It was a few thousand dollars.
Thanks.
Michael 06:14 PM 04-07-2014
Until Tom answers maybe some of these threads will help: https://www.daycare.com/forum/tags.p...ion+-+mortgage
TomCopeland 08:07 AM 04-08-2014
Originally Posted by Brustkt:
Hi Tom,
We refinanced our home for a better mortgage rate last year. Can we deduct the cost of our refinance? It was a few thousand dollars.
Thanks.
The costs of the refinance should be deducted over the life of the new loan. So, if you refinanced over 15 years, deduct the time-space % of 1/15th of the costs each year.Hi Tom,
We refinanced our home for a better mortgage rate last year. Can we deduct the cost of our refinance? It was a few thousand dollars.
Thanks.
Brustkt 05:12 PM 04-08-2014
