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Old 12-31-2002, 01:12 PM
plastik
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2003 mortgage interest

What is the name of your state? WA

Another question: I'm approximately 6 months ahead in my mortgage payment. Will I be able to deduct all of the 2003 interest that I've paid this year, on this years' tax return or will I have to wait until 2004 to pay 2003 interest?

Thanks again.
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Old 12-31-2002, 01:53 PM
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Join Date: Aug 2002
Location: Washington
Posts: 3,484
No, prepaid interest can only be deducted in the tax year for which it's paid.

Why the heck are you prepaying interest? If you apply the extra money to the principle you pay off the mortgage sooner AND save interest throughout the next year.
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