The mortgage interest deduction is one of the most commonly utilized tax relief under 26 US Code ( i.e Internal Revenue Code) by an Individual. Section 163(h) of the Internal Revenue Code deals with mortgage interest tax deduction . Here are most common and useful questions and answer on the […]

Q. My 83-year-old aunt pays $3,000 a year in property taxes. Her house is paid off. She lives in it. She wants to defer payments of the taxes. Let’s say she passes away in five years. When the house gets sold, will the $15,000 she will then owe get taken […]