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Author: TBosh Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121159  
Subject: Interest Expense Date: 12/15/1998 1:39 PM
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Thanks for the help on the Roth IRA questions!! I definitely think the MF Tax Guide needs to go on my Xmas list!

I would also appreciate help with one more question (I promise just one more):


- A few days ago I refinanced the mortgage on a condominium that I own and rent out (ie business property). At the closing, I paid interest as part of the payoff on the old loan to the previous lender - and prepaid interest to the new lender from the date of closing to the end of this month - (12/11/98-12/31/98).

My question: Is any or all of this interest deductible as an expense against the rental income received in 1998?

( I understand that there are limitations on expense deductions based on income - but this scenario assumes that I am under the income ceiling)

thanks so much!!
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