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I'm still trying to interpret the language in TD9918. This is really bizarre.... There is no clear answer from the IRS as to how they want the deductions report...
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I agree.... I have looked at this from all angles and I'm exhausted trying to find answers to support a reasonable position.
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The CPA mentioned I could report the taxes portion of Excess Deduction along with the property taxes on Sch A with the other taxes. It's under $100, so I didn't...
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Hello Bob,The reverse mortgage was paid off in 2024 after the homeowner died. A lot of research mention that the deduction should be deducted by the beneficiary...
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Thank you for your comments. After doing extensive research on the change in treatment of Excess Deductions on termination, the regulations follow up of Notice ...
