TAX DECUTION QUESTION FOR ADDITIONAL MORTGAGE PRINCPLE PAYMENT

eusujeong
eusujeong Member Posts: 4 Newcomer
in Filing my taxes

Hi,

I am wondering whether if I pay an additional mortgage principal payment, I can deduct this payment from my household tax.

Answers

  • JanaA
    JanaA FreeTaxUSA Agent Posts: 83

    Currently the IRS only allows a deduction for the mortgage interest paid during the tax year. If you pay additional principal, this is not deductible.

  • JMSSGV
    JMSSGV Member Posts: 208

    Mortgage principal is never deductible under any circumstances.

  • eusujeong
    eusujeong Member Posts: 4 Newcomer

    Thanks for your answers!

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