Is mortgage interest tax deductible in Canada?

Answer Mortgage interest is not tax deductible in Canada according to Bloomberg. In fact, the Canadian Supreme Court ruled in January 2009 that investment loan interest (which is deductible) may not be us... Read More »

Top Q&A For: Is mortgage interest tax deductible in Canada

Is interest paid on a time share condo deductible as mortgage interest?

According to the IRS, mortgage interest from a timeshare condominium is considered qualified residence interest that is tax deductible as long as the owner uses the condominium as a second home for... Read More »

Is mortgage interest tax deductible?

Most likely, if certain conditions are met: If the home is collateral on the debt; if you file a Form 1040 and itemize deductions; if you are liable for the loan; and if the home is a qualified hom... Read More »

When did mortgage interest become deductible in the U.S.?

The deductible feature of mortgage interest was enacted by Constitutional amendment in 1913. However, few homeowners at the time could benefit because most either built or owned their homes outrigh... Read More »

Is mortgage interest deductible?

The mortgage interest you pay on your home is tax deductible. The amount of mortgage interest you can claim as a tax deduction will appear on Form 1098, which your mortgage lender will send to you ... Read More »