Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 1, 2019 7:17:16 AM

I prepaid 2018 mortgage payments in 2017. May the prepaid interest included with the payment be deducted in the 2017 tax year?

0 1 231
1 Replies
Level 15
Jun 1, 2019 7:17:18 AM

No.  The IRS indicates that prepaid interest allocated to the future can only be deducted in the years its allocated to.

Also, many lenders will apply excess payments to principle only, reducing the length of your mortgage.  You may not have actually paid any interest, even though you made extra payments.