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Old 02-08-2015, 07:20 PM
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second mortgage

We don't own a home anymore, but we still owe the second on the home. We did a short sale on it back in 2011. My question is, for 2014 taxes, can I claim the interest that I paid toward the second, although it is an unsecured loan now?



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Old 02-09-2015, 12:13 AM
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Originally Posted by aphillips View Post
We don't own a home anymore, but we still owe the second on the home. We did a short sale on it back in 2011. My question is, for 2014 taxes, can I claim the interest that I paid toward the second, although it is an unsecured loan now?
yes;aslongas you itemize deductions on sch a of 1040.



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Old 02-09-2015, 12:19 AM
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Originally Posted by aphillips View Post
We don't own a home anymore, but we still owe the second on the home. We did a short sale on it back in 2011. My question is, for 2014 taxes, can I claim the interest that I paid toward the second, although it is an unsecured loan now?
sorry my bad.
No. Interest on an unsecured line of credit is not deductable to pay off a home loan



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