Archive for the ‘United States’ Category

if you have 2 interest only mortgage loans, can you do tax deductions on the both?

Posted in United States on 12/14/2008 03:15 am by admin
Ekaterina K asked:


I am talking about the case when you got 80/20% mortgage loans with 0% downpayment. I know that the 80% one is fully deductable, but not sure if I can deduct taxes for the second one

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How do I find out if someone is using my name for mortgage loans that I know nothing about?

Posted in United States on 09/11/2008 09:22 am by admin
Julio asked:


I was looking up my credit report online and for the questions to make sure I was me I was asked about mortgage loans in two different years that I know nothing about. I’m renting a apartment and haven’t took out any loans that I can think about

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Possible to reduce capital gains tax on home sale?

Posted in United States on 11/21/2007 10:46 am by admin
spence1209 asked:


My parents are selling their investment property to fund their retirement. However upon my calculations they are looking at a 45K hit in capital gains. I was going to suggest that upon selling they use a seller financed mortgage so that they will not be taxed on the full amount at once along with providing them a steady investment without any risk. Would this work?
What if they incoming payments were put directly into a Roth…would this still be taxable income? Is there any way to reduce this amount?

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