using house loan as tax write off, how it can change,..

[Deborah195]

Currently own company gross $200K annual. Owe $200K on house. If I retire, how will it affect me being able to write off the interest?
Thank you,
D

 

[Michael Wechsler]

Originally posted by Deborah195
Currently own company gross $200K annual. Owe $200K on house. If I retire, how will it affect me being able to write off the interest?

I'm not sure what you are asking here as we don't have enough information. Are you living in the house? There are tax deductions available for purchases of a primary residence. Not sure what this has to do with your business and the amount of your mortgage, if that is what the 200K is.

 

[The_Governor]

Deducting mortgage interest on Federal taxes is not conditional on having Wages or Earned Income.