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Reload this Page report mortgage interest if Exclusion of Gain is reported

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Old 03-31-2008, 04:59 AM
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Join Date: Mar 2008
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report mortgage interest if Exclusion of Gain is reported

What is the name of your state? Arizona

If I qualify for the Exclusion of Gain from the sale of my home, and choose that option,
Can I deduct the mortgage interest on schedule a (itemized deductions)?
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Old 03-31-2008, 07:27 AM
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Join Date: Feb 2007
Posts: 8,224
Sure, if the mortgage interest was deductible (this is the acquisition financing on a qualified property, the normal case). The mortgage is pretty much independent form capital gain.
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