Talk of The Villages Florida - View Single Post - IRS tax question.....
Thread: IRS tax question.....
View Single Post
 
Old 11-03-2010, 02:27 PM
ljones190 ljones190 is offline
Senior Member
Join Date: Jan 2009
Location: Mount Laurel, NJ
Posts: 214
Thanks: 0
Thanked 0 Times in 0 Posts
Default IRS Tax Question
That is also my understanding that you can not deduct bond costs on your federal income tax. We decided to get a HELOC to pay off the bond. The Heloc is not fixed and will rise with the prime rate, no danger of that happening for the short term. We have not done it yet since we do not want to pay the off the bond until we move to TV after retirement, hopefully 2012. The Heloc would be tax deductible and the only risk is the non fixed rate interest rate. Sorry HELOC= Home Equity Line of Credit.
__________________
Riverside NJ, Moorestown NJ, Mt. Laurel NJ, Tuckerton NJ, Mount Laurel NJ.