Can my client itemize mortgage interest she didn't actually pay but was included on a 1098 from a debt cancellation of her mortgage? The cancelled debt is not taxable to her but reduces her basis.
Can my client itemize mortgage interest she didn't actually pay but was included on a 1098 from a debt cancellation of her mortgage? The cancelled debt is not taxable to her but reduces her basis.
An oldie, but a goodie. And 'ANYTHING' posted by Dave Fogel is gospel. If you have further questions, google him to find his website which is chock-full of all things related to COD issues.
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