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Deductability of Home Equity Loan Closing Costs
Posted: Mon Feb 13, 2006 6:14 pm
by Iceman
Anyone know what part of closing costs are deductible on 2006 Fed? Loan origination points? Prepaid interest? Appraisal Fees?
Posted: Mon Feb 13, 2006 6:22 pm
by Mobius
Sounds like geek to me!
Isn't that why you engage a lawyer when buying property?
Posted: Tue Feb 14, 2006 5:48 pm
by T-Bone
Points and interest are but I'm not sure about appraisal fees.
Posted: Fri Feb 17, 2006 12:17 pm
by LordDeath
Take this with a grain of salt...We bought a new house this year and the 1098 we received in the mail showed our deductable interest and points.
I don't believe the other stuff is deductable.
However... I also don't think it's advisable to get your tax advise on the DBB. Hire an accountant. You get what you pay for.