Talk of The Villages Florida - View Single Post - Interest portion of bond payment tax deductible?
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Old 10-16-2012, 11:35 AM
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Geewiz Geewiz is offline
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Quote:
Originally Posted by keithwand View Post
HUH?
Why would a premier home have bigger red flags than another home?
I wasn't aware the IRS checked square footage now.
My point - trying to be funny and not making it - is that folks with more cash may have investments and because of the amount of money involved might accrue red flags. Remember - just large charity deductions - though totally legit - earn you points. But - again - I was just trying to put this in perspective...it costs the IRS more in admin costs to go after a couple hundred dollars in interest deductions than they would ever recover. In my old agency, we routinely waived overpayments to folks under a certain amount just for that reason.

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