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.

I purchased a mobile home and paid cash for it and forgot to see if it can be claimed in taxes. I have exiled. Need help as what to do.

 
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.

1 Reply
ChristyW
New Member

I purchased a mobile home and paid cash for it and forgot to see if it can be claimed in taxes. I have exiled. Need help as what to do.

If you paid cash, you should not have a mortgage. The IRS lets you deduct your mortgage interest and taxes paid, but only if you take the itemized deduction. You can't deduct the principal. Itemizing will upgrade your return to TurboTax Deluxe. See more about itemizing to determine if you need to amend your return before you make any changes and incur additional fees: https://ttlc.intuit.com/replies/3302313

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question