Prepaid mortgage interest on seller financed property
Does anyone know if it is possible to write up a settlement sheet to show a lower sales price, and "prepaid mortgage interest" as a line item. Not at all sure if this is doable but I am looking for ways to lower the transfer taxes and create a larger tax deduction. I have a property I am negotiating and am bringing a decent chunk of change to put down and the seller will carry the remainder as a mortgage. The seller will net the proceeds regardless, but I was wondering if I could have the settlement statement look like part to the cash I was bringing to put down, could look like "prepaid mortgage interest" essentially lowering the sales price, netting the seller the same proceeds, and creating a nice tax deduction. Appreciate any feedback!