Legal Question in Real Estate Law in Ohio

Loan Interest, PMI, Prop. Taxes

My mother & I bought a condo Feb. o8. We both receive Soc. Sec.; which isn't taxable. We received our 1099 from our bank stating our interest paid on the loan, P.M.I. paid, and prop. taxes. Since we don't file a return; how can we get this money back?


Asked on 3/01/09, 12:16 am

1 Answer from Attorneys
Elizabeth Schmitz Elizabeth S. Schmitz Attorney at Law

Re: Loan Interest, PMI, Prop. Taxes

You can only deduct these expenses against taxable income. So if you do not have taxable income you will not be able to get this money back.

Read more
Answered on 3/01/09, 5:39 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Ohio