The payoff on house was about 60,000.
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The payoff on house was about 60,000.

We will be paying taxes on the retirement funds that we used to pay off home.
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Level 15

The payoff on house was about 60,000.

What is your question?

Level 15

The payoff on house was about 60,000.

We will be paying taxes on the retirement funds that we used to pay off home.

 

Generally, yes.  You do not get a deduction for paying off your house.

Level 15

The payoff on house was about 60,000.


@SweetieJean wrote:

We will be paying taxes on the retirement funds that we used to pay off home.

 

Generally, yes.  You do not get a deduction for paying off your house.


No, there is not a deduction for paying of the mortgage on your personal residence.

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