Is the interest portion of my monthly payments on a land sale contract deductible as home mortgage interest?

October 11th, 2009


If it is your primary residence or a second home, yes, it is deductible as an itemized deduction on schedule A. If it is an investment, then it may deductible against any income generated by the property.


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2 Responses to “Is the interest portion of my monthly payments on a land sale contract deductible as home mortgage interest?”

  1. UNITool Says:
    October 12th, 2009 at 12:22 am

    Only if the property is your primary residence – must live on site
    References :

  2. dale Says:
    October 12th, 2009 at 1:03 am

    If it is your primary residence or a second home, yes, it is deductible as an itemized deduction on schedule A. If it is an investment, then it may deductible against any income generated by the property.
    References :

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