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Deductions & credits
1. So do I use the end of each month as a reference point to establish the balance for each loan? As an example, since I paid off loan B on 18 OCT, the month of Oct would be $0 for Loan B and since I secured the new loan for Loan C on 18 OCT, the month of Oct would be $796k for Loan C?
2. Once i determine the overall %, do i use this % to determine how much interest can be claimed on each of the 1098's for those loans? For example, if the math shows that 97% of the interest can be deducted, do I claim 97% loan A interest, 97% loan B interest, and 97% loan C interest?
‎January 17, 2025
6:41 AM