Mortgage Modifications Can Result in Significant Tax Savings Due to Forgotten Capitalized Interest

Tax practitioners should identify clients with HARP and HAMP mortgage modifications since 2007 to determine if they have capitalized interest included in the principal of the new loan. This capitalized interest remains fully deductible when it is eventually paid but it is typically not being reported on Form 1098 to the borrower, and therefore their new mortgage are understating their deductible mortgage interest

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Year of publication:	2016
Authors:	Markham, MST, EA, USTCP, Charles
Publisher:	[2016]: [S.l.] : SSRN
Subject:	Hypothek \| Mortgage \| Zins \| Interest rate \| Kapitalertragsteuer \| Capital income tax \| Sparen \| Savings \| Steuervergünstigung \| Tax incentive \| Theorie \| Theory

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Extent:	1 Online-Ressource (8 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Taxation, Sep 2016 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 7, 2016 erstellt
Classification:	G21 - Banks; Other Depository Institutions; Mortgages ; H24 - Personal Income and Other Nonbusiness Taxes and Subsidies ; h34
Source:	ECONIS - Online Catalogue of the ZBW

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