Announcement

Collapse
No announcement yet.

Prepayment penalty

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Prepayment penalty

    A loan was borrowed for rental expenses many years ago. Then it was refinanced in 2006. But the former lender imposed prepayment penalty because it was an early payoff. Is the prepayment penalty tax deductible?

    #2
    It is deductible

    as interest. Usually it is included on the form 1098.

    Comment

    Working...
    X