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chocolate lady
chocolate lady asked in Business & FinanceTaxesUnited States · 1 decade ago

Negative amortization tax deductible?

I refinanced my mortgage in 2007, and added the negative amortization to the new loan.....Does that mean I can deduct this amount from my 2007 taxes?

Many thanks!

Update:

v_b: the negative amortization is included in the new loan....isn't that considered paid???

2 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    No. It's still unpaid interest. You haven't actually paid it so you can't deduct it.

  • Anonymous
    1 decade ago

    Hi,

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    http://dwarfurl.com/809b1e

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