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Barb342
April 12, 2024
Question

Do I report I paid off a credit card that wasn't in default, just wanted to get that credit card paid?

  • April 12, 2024
  • 1 reply
  • 0 views
The refinance, had some money built in money so we used it to pay off the highest credit card balance. How do I record this amount?

1 reply

B
BillM223
April 12, 2024

"The refinance" - are you talking about a home refinance? You report this as part of the sequence of answering questions for you mortgage interest (because thee rule about refinances have become much more complicated).

 

Otherwise, Interest on credit cards is no longer deductible.

 

Unless you are using the credit card for business purposes you don't report it on your tax return.

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