Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-14-2010, 07:06 PM
Junior Member
 
Join Date: Apr 2010
Posts: 1
Investment mortgage interest

I have sold an investment property (house) within a few months of buying (same year) as an installment sale. I've reported the sale, including the down payment (principal) and interest received.

This property has an underlying mortgage on which I PAID interest, which offsets some of my reported interest income. Where do I report this interest expense?

I've check all over Turbo Lax and the IRS site. Just haven't stumbled on the answer yet.

Thanks in advance for any assistance.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Mortgage Interest and Property Taxes Energy Trader Itemized Deductions 0 03-28-2010 05:01 AM
Mortgage Interest for Joint Owners aldc7d Itemized Deductions 0 02-05-2010 04:07 PM
reporting mortgage interest saugeye Rental Real-Estate 1 03-11-2009 04:19 PM
Can the mortgage interest on Land intended to build a 2nd Home be deductible? bookkeeping Itemized Deductions 1 05-02-2008 11:24 PM
Mortgage Interest Deductions - Married Filing Separate ajbarrick Itemized Deductions 1 03-13-2008 10:04 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.