Go Back   Tax Forum - Payroll, Accounting and Tax Help Forum > Individual Tax Forums > Individual Income Tax Forum

We Recommend
www.FreeTaxExtension.com

Post New Thread  Reply
 
Thread Tools Display Modes

We Recommend
www.FreeTaxFiling.org

Old 03-27-2017, 05:56 PM   #1
sheepshead
Junior Member
 
Join Date: Feb 2010
Posts: 6
Rep Power: 0sheepshead is on a distinguished road
Read. Ask. Learn.
Investment Expenses - Recreational Land

Registered users do not see advertisement
I purchased some rec land. There are no dwellings. I understand that I cannot claim mortgage interest from my 1098 as there is no home on the property. Am I able to claim the mortgage interest as investment expenses? Some day I may sell the land, so I would be subject to capital gains
sheepshead is offline   Reply With Quote
We Recommend

Disclaimer
While you may find opinions of forum members useful, they don't take the place of professional legal advice. TaxForum.us suggests that you find professional legal help for all your legal questions since every situation is different and depends on your state tax laws.

The information presented on this site comes without any warranty of correctness and, therefore, should not to be relied upon as professional advice. No attorney client relationship is created through use of this site.
Post New Thread  Reply


Special Offers
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
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

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 03:15 PM.


Free Tax Help® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.




Approved TurboTax Affiliate Site
TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of the respective owners.
vRewrite 1.5 beta SEOed URLs completed by Tech Help Forum and Chalo Na.