Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: dawn101063 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Interest on Investment Property Date: 5/21/2000 1:37 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I bought an acre of land 6 years ago. It is completely paid for. When I bought the land it didn't have a road, water hook up etc. Last year they started putting in the road etc. and I started receiving my tax bill which included the charges for the improvements. On the bill they are charging me the taxes I owe (which I know I can claim) the principal and the interest. I would like to know if I can claim the interest part of the bill on my taxes? I will be paying for the improvements for the next few years. I have asked numerous people and no one seems to be able to give me a definitive answer. Thank you so much for your time...

Dawn
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:
Value Hounds

Mylan Transitioning from Generics
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement