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bella512009
April 6, 2022
Question

We sold our income property (house) do we add our mortgage as expense?

  • April 6, 2022
  • 1 reply
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    1 reply

    A
    Antomeister
    April 7, 2022

    You may not add the principal part of the mortgage payment as an expense. You are only able to deduct the interest portion of your mortgage payments as long as the property in question is a rental or investment property. For more information I have added a link: Line 8710 – Interest and bank charges

     

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