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What are the tax implications of paying back mortgage assistance?
We received mortgage assistance in 2015 and sold our house with profit in 2018 - this means we needed to pay back the mortgage assistance received in 2015. When mortgage assistance program was paying our property taxes and mortgage interest in 2015 we could, naturally, not deduct those in our taxation. Now that we paid back the mortgage assistance we, in practice, also paid back the property taxes and mortgage interest for 2015. Can we refile the 2015 taxation to get benefit for these property tax / interest deductions and what forms are needed for that / how do we do that?
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‎June 4, 2019
6:23 PM