I have lost my job last year and my current income is below 50,000 yr. I have over 300,000 mortages which I pay close to $14000 interest. Can I still claim for the interest on my mortgage if based on my income I don't pay that much tax?
Asked on 11/08/11, 7:45 pm
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
It does not matter that your allowed deductions exceed your income and generate refunds.
Answered on 11/08/11, 8:44 pm
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