Category Archives: United States

Filing seperately can my wife take the Mortage Tax credit on our state (CT) taxes if the loan is in my name?

Bryan W asked: I’d like to take the auto property tax credit on my return and hopefully let her take the mortgage property tax credit. With the maximum credit allowed at $500 in CT, and us paying a lot more … Continue reading

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What are the calculations to show the tax benefit of mortage interest deductions for a rental-property buyer?

J Silva asked: I understand that if the owner lives in a four family house, 25% of the interest is shown as a deduction on Schedule A and 75% is shown as an expense on Schedule E. However, exactly how … Continue reading

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Mortage Interest deduction and Tuition expense deduction, where did they go on the 1040 form?

rattone11 asked: I know they were there last year, now I can’t find them. Anybody know what lines they can be entered on? It’s not in any of the instruction booklets.Arlene

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Mortgages for Teachers with Bad Credit

Jason Gluckman asked: Special bad credit mortgages are available for teachers. Educators have access to some exclusive mortgage products that are not available to other individuals. There are several low-interest mortgages open for teachers with bad credit. These teacher-specific bad … Continue reading

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Can you split part of your property taxes into your mortage payment and then pay the other half once a year?

sarabmw asked: I am currently in the process of purchasing a home, The taxes on the property is expensive, is there a way to split half the taxes into the mortatage payment, and then the other half pay when the … Continue reading

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