Quote:
Originally Posted by ArtB
Real Estate taxes are tax deductable on the Federal tax return. For those of us who have not paid off our bond.....this tax amount includes the annual prorated amount. What if I pay off my bond? Is the bond payoff amount tax deductible in addition to the Real Estate taxes (which exclude a bond amount?).
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Well ArtB, here's the good news - welcome to TOTV!
And here's what you probably would not like to hear:
The bond is not a tax, it is a non-advalorem assessment which the IRS does not allow as a tax deduction.