Saturday, March 13, 2004

Home mortgage interest tax deductions may be less in 2003

If you refinanced your mortgage in 2003 with a loan that has a lower interest rate than your previous loan, your tax deduction for mortgage interest may be less than you had previously been claiming (depending on the amount of the loan that you refinanced). Will this affect you? Many people did not think about this effect of refinancing.

Please check with your tax advisor or other financial advisor.

No comments: