Question

My mortgage was transferred to a new company at the end of last year. Only the December payment was made to the new company, but it says they have no tax document?

Forum|Forum|6 years ago
February 1, 2020
1 reply
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Can I deduct the interest for that one payment?

TurboTax Deluxe Online

Yes. As long as the payment was made in 2019, and you have the breakdown of that payment between principal and interest (to determine the interest amount to report), it can be deducted. Taxes are done on a cash basis. Your deductions should be taken in the year the payments were made.

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