Buyer had on line # 905 (page 2) "VA FUNDING FEE TO VETRANS ADMINISTRATION" of $7,095.
Does anyone know if this is can be interest or what??
Does anyone know if this is can be interest or what??
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This post is for discussion purposes only and should be verified with other sources before actual use.
Many times I post additional info on the post, Click on "message board" for updated content. -
Might try pg 6-2. Shows not deductible for residence, but other info for rentals.
I had to hunt around a little yesterday for that page. -
Bob, this is mortgage insurance. It is deductible for 2008 loans. See pub 936, p. 7 under Mortgage Insurance Premiums for discussion of VA Funding Fee.Originally posted by BOB W View Post
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Cool > client will love it. Thanks for the info.Originally posted by BP. View PostThis post is for discussion purposes only and should be verified with other sources before actual use.
Many times I post additional info on the post, Click on "message board" for updated content.Comment
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Glad you answered BP! I'm now a little confused about the info on page 6-2 though.Comment
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Love the TTB 6-2 chart. Look at chart entry for lines 902-905 - "Mortgage insurance premium- Asterisk." Asterisk says if qualified, MIP may be deductible.Originally posted by BHoffman View Post
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Good on you BP
How is anyone supposed to know that VA FUNDING FEE TO VETRANS ADMINISTRATION is mortgage insurance...couldn't they just have said that?
Tax preparers are now expected to be mind readers.....I knew one could get a VA loan, but who could ever decipher this as mortgage insurance????? taxeaBelieve nothing you have not personally researched and verified.Comment
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