gcason asked:


Does it make more sense overall to pay off your mortgage and invest the amount you would spend, or keep a mortgage for the tax benefits?

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Buck J asked:


My mom has hit hard times, and needs me to be a co-signer on a re-fi, meaning I will have to be put on title and mortage. Will I be able to get any tax benefits?

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janice_chan183 asked:


I am buying my first condominium in New York city. My parents are going to be partial investors and helping me with the downpayment and mortage.

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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!

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Evan asked:


I am divorced and am paying the full mortage payment and property tax for a home purchased during the marriage. My ex does not work and does not contribute to any of these payments. Can I take the full property tax and interest deduction for tax purposes?

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girl on a 660 raptor asked:


i paid my sister’s mortage for all of 2007, can i claim the the interest on my taxes?

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juankiboi asked:


I don’t show any amount on box 4 of for 1098, but I paid $648 per my mortgage institution. Can i still deduct it?

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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 than that in taxes, we want to legally minimize the amount owed.

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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 does this benefit the owner? Lets assume the owner paid $500 over the course of the year in taxes and paid $100 in mortgage insurance.

Thanks!!

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