Financing in Los Angeles>Question Details

Sabuono, Home Owner in Los Angeles, CA

Is any of the deductible? HUD line 801=$4795. HUD line 802= -6776.25. HUD line 803= -1981.25 is line 801 deductible over the 30 year loan?

Asked by Sabuono, Los Angeles, CA Sun Feb 17, 2013

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I think it's best to consult your Accountant regarding these possible tax deductions.
0 votes Thank Flag Link Sun Feb 17, 2013
Hello Sabuono, Congratulations on your purchase.

You will have many deductions, such as interest, property taxes and mortgage insurance as well as HUD lines from 800 to 811 are all deductible. Line 801 is deductible thru the term of the loan if it is a refinance and if it is a purchase then no, the entire amount is deductible the year it is paid in.

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0 votes Thank Flag Link Sun Feb 17, 2013
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