0
We are holding a promissary note, on a sale of a rental. Will the people owing the money to us be able to claim the interest on their taxes?
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Is interest paid IRS on delinquent taxes deductible?
No, personal interest is never deductible, regardless of who it is paid to.
Are interest and dividend taxes paid in New Hampshire deductible on the Federal Schedule A?
Yes.
Are HELOC loans tax deductible?
If HELOC was used to improve your home, the interest paid on the loan is tax deductible up to 1 million dollars. If HELOC was used for other purposes, you can deduct the interest up to $100,000.
Why do you use an after tax figure for cost of debt but not for cost of equity?
Because interest is a tax-deductible expense for the firm, but dividends paid to shareholders are not.
Is bank interest rate on savings tax deductible?
No. Interest payments, whether from banks or other sources are taxable unless some special provision applies. For example, interest paid on an Individual Retirement Account (IRA) and remaining in the IRA, and not taxable at all.
Is interest paid IRS on delinquent taxes deductible?
No, personal interest is never deductible, regardless of who it is paid to.
Is Interest paid to debt collectors tax deductible?
no
Is the interested paid on a back spousal support payment tax deductible?
Personal interest is not tax deductible
Are interest and dividend taxes paid in New Hampshire deductible on the Federal Schedule A?
Yes.
Is interest paid on the mortgage of your home tax deductible?
Well it depends on what kind of mortgage.
Is home equity tax-deductible?
The equity in your home is not a tax deduction. The interest paid to banks for a home equity line of credit or loan may be tax deductible.
Are HELOC loans tax deductible?
If HELOC was used to improve your home, the interest paid on the loan is tax deductible up to 1 million dollars. If HELOC was used for other purposes, you can deduct the interest up to $100,000.
Can you apply unclaimed interest paid on student loans during the 2006-2007 tax season on your 2008 tax return?
Interest on student loans isn't deductible - regardless of when paid or accrued.
Is interest paid on a non-business SBA disaster loan tax deductible?
Normally yes! Provided the home is used as collateral.
WHEN health insurance deductible?
WHEN WHEN when is health insurance deductible paid when? When?
Who is the deductible paid by?
The deductible in a person's health insurance policy is paid by the owner of the policy. This means that the person who purchases the policy is responsible for the deductible fees.
Why do you use an after tax figure for cost of debt but not for cost of equity?
Because interest is a tax-deductible expense for the firm, but dividends paid to shareholders are not.
