mortgage revers interest

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  • bekzm
    Senior Member
    • Jan 2008
    • 155
    #1

    mortgage revers interest

    Mortgage reverse client sold and had to pay the note off .Deduct on A such a conflict
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    • TAX4US
      Senior Member
      • Mar 2010
      • 551
      #2
      I don't think you you can deduct that interest. I may be wrong.

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        • bekzm
          Senior Member
          • Jan 2008
          • 155
          #3
          You were correct. Sorry didn't respond sooner. Has been a bad year.

            Comment

            • TAXNJ
              Senior Member
              • Jan 2007
              • 2106
              #4
              See if this helps or not:

              For senior taxpayers | Internal Revenue Service
              https://www.irs.gov/faqs/other/for-senior-taxpayers/for-senior-taxpayers
              Are the proceeds I receive from a reverse mortgage taxable to me?
              Always cite your source for support to defend your opinion

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