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I had a hard money loan for the first 8 months of owning my home. Can I count that interest paid?
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I had a hard money loan for the first 8 months of owning my home. Can I count that interest paid?
Yes, if the loan is secured by your property, you can deduct the interest paid in 2016.
To enter mortgage interest
- Click on Federal Taxes (Personal using Home and Business)
- Click on Deductions and Credits
- Click on I'll choose what I work on (if shown)
- Under Your Home
- On Mortgage Interest, click on the start or update button
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