Discussion:Mortgage interest on lot adjacent to home
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Discussion Forum Index --> Tax Questions --> Mortgage interest on lot adjacent to home
| 15 May 2007 | |
| My client purchased two lots a few years ago and built a house on one lot. He originally intended to build a spec house on the other lot and I have been treating the interest on that lot as investment interest. He does not have any investment income and has not been able to take the deduction. Now, he had decided to keep the lot as a buffer to his residence. Can I now claim the interest on that lot, along with the interest on the home, as mortgage interest. | |
Bottom Line (talk|edits) said: | 20 May 2007 |
| I've done this. Tell the client to landscape them and/or fence them together. | |
| 20 May 2007 | |
| adjoining lots can be treated as a single residence. As long as they are used together.
He could put a stick in the ground and call it horseshoes. | |
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