Hard Money Loan costs


D

daveA

I purchased a investment home in December 03 with hard
money. The loan was paid off in March 04. I do not need
the deductions for 03 and would like to take them in 04.

Are hard money loan costs deducted when it is payed off or
when the loan is taken out? I would really like to find a
way for the latter.

Thanks
dave
 
Ad

Advertisements

A

Arthur L. Rubin

daveA said:
I purchased a investment home in December 03 with hard
money. The loan was paid off in March 04. I do not need
the deductions for 03 and would like to take them in 04.

Are hard money loan costs deducted when it is payed off or
when the loan is taken out? I would really like to find a
way for the latter.
I've heard of hard money before, but what is a "hard money
loan"?
 
Ad

Advertisements

H

Harlan Lunsford

daveA said:
I purchased a investment home in December 03 with hard
money. The loan was paid off in March 04. I do not need
the deductions for 03 and would like to take them in 04.

Are hard money loan costs deducted when it is payed off or
when the loan is taken out? I would really like to find a
way for the latter.
The rule is that we cash basis taxpapers , and most of us
are, take deductions for items paid ONLY in the year paid.

Now, is hard money sort of like a case quarter?

Cheer$$$$,
Harlan Lunsford, EA n LA
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

Hard Money 4
Hard money CA 1
Hard money CA 0
Hard money lenders CA 0
Money 2006 From Old Hard Drive to New Hard Drive 2
Moderator: This is hard to belief. 0
South Africa Mortgage *Hard* 0
delete money from hard drive 4

Top