bradb1
New Member

Given the new tax law for 2018, should I pay my January mortgage payment in December so that I can write off the mortgage interest in 2017?

 

Deductions & credits

That is a valid option if your mortgage company can process the payment by 12/31.

Deductions & credits

Prepayments of mortgage usually just reduces the principle and do not apply to the interest.    Ask the mortgage  company if they will allow a payment of the interest and issue the 2017 1098  that includes any 2018 interest that was paid in 2017.   If it is not on the 2017 1098 the IRS will not allow it.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**