How much interest, prop taxes, insurance, HOA you can deduct(CA)?
1 Reply
Artur A.
posted about 1 year ago
If we buy a condo that costs 250K.
Can we deduct ALL mortgage interest(3.5%), property taxes ($2,439 per year), sales taxes (if you buy for cash), home insurance($1150 per year) and HOA($4860 per year) from salary 125K per year?
Bjorn Ahlblad
Investor from Shelton, WA
replied about 1 year ago
@Artur A. check with your CPA to make sure. My understanding is you can deduct all the MI, all the taxes you mention, and none of the rest. All the best!