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#31285 - 02/15/07 06:20 PM mortgage interest return...
sc2dave Offline
Member

Registered: 09/25/05
Posts: 51
Loc: l.a. cal
here's some of my info: made around 49,xxx last year. paid around 44,xxx in interest!! anyways, i claim myself and my son(wife is not from here,no ssn yet)had taken around7,xxx from income.According to this,how much will i get back (ballpark figure) from the interest i paid?
_________________________
buy low,sell high!

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#31286 - 02/15/07 08:30 PM Re: mortgage interest return...
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
Excuse me; are you saying you made $49,000 in income and paid $44,000 in interest???
PLUS had $7,000 taken from where; you would have only had 5,000 left after paying the 44,000 interest???

You need to talk to a tax professional very soon..............like in the next 24 hours!
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

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#31287 - 02/15/07 09:05 PM Re: mortgage interest return...
sc2dave Offline
Member

Registered: 09/25/05
Posts: 51
Loc: l.a. cal
ooops! i meant 41,000 in interest,and 7,000 from work.I was going to travel some to make more $$$,but wasn't able to after all.What helped me out making some of the payments was some money saved.I'm glad the house is up for sale now.(yeah,i know,bad time to sell).so,ballpark figure?
_________________________
buy low,sell high!

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#31288 - 02/16/07 12:14 PM Re: mortgage interest return...
Realty Check Offline
Major Contributor

Registered: 09/19/03
Posts: 2410
Loc: Panama City FL
This is a real estate forum... not a personal income tax forum... you need to speak to a tax professional.

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