Is interest on a reverse mortgage deductible

posted

Connect with an expert

2 Replies

Is interest on a reverse mortgage deductible

No. it's treated as a home equity line of credit. this is true even if the loan is paid off.

Is interest on a reverse mortgage deductible

agreed, no. for most, taxes are based on cash movement, and on a reverse mortage you are not paying out cash so there is nothing to deduct.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post