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I don't have a mortgage on my house, I have a promissory note. How do I deduct interest paid on a promissory note?
We bought a house from a family member using a promissory note. We pay interest along with our monthly payment to the family member. We own the house, though - the deed is in our name. How do I deduct this interest? What do I enter when I say whether I have a mortgage or not?
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May 31, 2019
7:39 PM