Posted on: 17th Jun, 2009 02:47 pm
Can we write off the $150,00 that we put down on the house when we bought it as a loss on our taxes
This is very interestign question
My guess is probably you cannot. But you be better off consultign a tax professional
Good luck and feel free to ask
My guess is probably you cannot. But you be better off consultign a tax professional
Good luck and feel free to ask
Hi czrk,
You cannot claim the amount you put down for the loan as a loss on your taxes. The amount you put in as down payment is your equity in the house. I don't think you can claim it as a loss.
You cannot claim the amount you put down for the loan as a loss on your taxes. The amount you put in as down payment is your equity in the house. I don't think you can claim it as a loss.