Quote:
Originally Posted by ahill99
Does anyone know if the if the interest expense on the bond payment is tax deductible? My guess is that it is not.
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Legally, it is not deductible, unless the house is rental property. Anything that appears in the non-advalorem section of your tax bill is not deductible because it is not based on the value of the house, like property tax and mortgage interest. Of course, you can deduct anything you want as long as you don't get audited by the IRS.