How much can I expect back in a tax refund If I am deducting 100% of my interest only mortgage payment?
March 29, 2009 by Tax Forum
Filed under Questions & Answers, Refunds
Andy asked:
I have interest only mortgage payments of about $1200, which i can completely deduct from my income on tax statements.
I have interest only mortgage payments of about $1200, which i can completely deduct from my income on tax statements.
Income: 50K
Loan: 250K
No other deductions/No dependents
About how much will I see back in mytax refund at the end of the year?
Appreciate everyone’s help.
Thanks- Andrew