Category Archives: United States

where do i take my deduction on form 1040 for interest I paid on a home mortage?

Posted on May 12, 2010 by admin

keith100_adams asked: i cannot find it anywhere on the form. Would I need to itemize my deductions to do this. The standard deductuion is $5150 and my interest for $2006 was around $2000. I have no other deductions that i … Continue reading →

Posted in United States | Tagged , | 8 Comments

Is mortage interest exempt from state income tax?

Posted on April 24, 2010 by admin

jl9185 asked: Everyone knows that mortgage interest is deductible from income for federal income tax purposes, but is the same true for state income tax? Any websites that clearly state this? Thanks!Richard

Posted in United States | Tagged , , , , , | 4 Comments

Will an underwriter approve a mortage without 2 years of past tax returns?

Posted on February 6, 2010 by admin

Tanya asked: We have applied for an FHA mortage, It is currently with the underwriter and everything seems to be going fine. Today he asked for permission to look for copies of tax returns from the IRS. The problem is … Continue reading →

Posted in United States | Tagged , , , , , , , | 3 Comments

need some answers about recourse and non recourse loans?

Posted on September 2, 2009 by admin

h20.sign asked: I built my house and divorced my wife about the same time, when the construction loan turned to mortage ex wouldn’t sign off const. loan unless she got her half of estimated profit if sold. This was in … Continue reading →

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We bought a house this year and filed our taxes through H&R block. Are we supposed to get money back?

Posted on August 24, 2009 by admin

mrsfcsn asked: We bought a house this year and when we filed with H&R block our refund is $1418. I am not sure if I understand or not but I was thinking we was going to get a bigger refund. … Continue reading →

Posted in United States | Tagged , , , , , | 5 Comments