Reverse Mortgage

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  • thetaxman2200
    Member
    • Jan 2012
    • 53
    #1

    Reverse Mortgage

    This is the fist time I have seen one of these.

    I am assuming there is not interest (Mortgage) for a deduction, save to assume that?

    Thanks
    Tags: None
    • Edward
      Senior Member
      • May 2007
      • 100
      #2
      What IRS Form was used to report this info to the taxpayer?

        Comment

        • ddoshan
          Senior Member
          • Feb 2012
          • 326
          #3
          I beleive there would be no interest deduction in connection with a reverse mortgage untill the contract is settled such as when the home is sold or something like that. Suspect the Pub. on home mortgage interest explains these situations.

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