turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Deducting loan prep expenses on loan to a family member

I loaned my daughter money to refinance her home and took a first mortgage. I paid a lawyer to draw up the loan and record the mortgage. Where on my return can I deduct those loan prep costs to offset the taxable interest she will pay me each year?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
MinhT1
Expert Alumni

Deducting loan prep expenses on loan to a family member

Unfortunately, these expenses are not tax deductible.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Deducting loan prep expenses on loan to a family member

That's the conclusion I'd reached, too, but thought I might have missed something. Thanks for your prompt response.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies