Saturday, February 20, 2010

Is the down payment for a new house tax deductible?

Your downpayment is not deductible, however, any mortgage interest, discount points, and property taxes that you paid at closing are.deductions you may take on yor Schedule A thereby reducing your taxable income.Is the down payment for a new house tax deductible?
No, it is simply part of the purchase price.Is the down payment for a new house tax deductible?
My husband says no, and he is a C.P.A.
No.
no only the interest on your mortgage is
No.

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