Self employed

Yes, you can still deduct your property tax and mortgage interest. However, this will likely result in a Net Operating Loss (NOL) since you have no income for the year. This NOL may be carried forward to offset your income in a future year. 

 

See HERE under " Home mortgage interest Real estate taxes" pgs 18 &19. Also, see

 

See HERE under "Worksheet 1 "Figuring your NOL deduction" and how to deduct a carryforward "Deducting a Carryforward" for more information.

 

[Edited 02/14/202 1:48 pm PST]

 

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