DannyOcean11
Junior Member
What is the name of your state? Maryland
Hi All -
I have two questions about my personal taxes..
In 2018, I moved to my now wife’s home and kept my other home. My plan was to renovate it and then rent it out. Plans didn’t work as well as I’d like and the rental process has been delayed.
I continued paying utilities, mortgage, etc but have yet to rent it out. I did make several improvements, around $8000 worth. What can I deduct here? If anything at all.
Second question is about mortgage insurance. I know congress keeps letting this expire. Will congress extend the mortgage insurance deduction this year? (In your opinion) Why do they keep letting this happen? This can potentially be a lot of money for families and I’m sure a lot of them never amend third taxes to claim this deduction if it’s extended.
Thanks
Hi All -
I have two questions about my personal taxes..
In 2018, I moved to my now wife’s home and kept my other home. My plan was to renovate it and then rent it out. Plans didn’t work as well as I’d like and the rental process has been delayed.
I continued paying utilities, mortgage, etc but have yet to rent it out. I did make several improvements, around $8000 worth. What can I deduct here? If anything at all.
Second question is about mortgage insurance. I know congress keeps letting this expire. Will congress extend the mortgage insurance deduction this year? (In your opinion) Why do they keep letting this happen? This can potentially be a lot of money for families and I’m sure a lot of them never amend third taxes to claim this deduction if it’s extended.
Thanks