Late payment charge on mortgage payment.
Mortgage prepayment penalty.
If you pay off your home mortgage early, you may have to pay a penalty. You can deduct that penalty as home mortgage interest provided the penalty isn't for a specific service performed or cost incurred in connection with your mortgage loan.
Are property Inspection fees connected to late payments tax deductible/ and if so how do I categorize it.
My rental property mortgage was delinquent for several moths and in addition to the late fee I was charged for a Property inspection.
Yes, property inspection fees can be deductible as a maintenance expense.
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