daveA wrote:

- quote -

The rule is that we cash basis taxpapers , and most of us
are, take deductions for items paid ONLY in the year paid.

Now, is hard money sort of like a case quarter?

Cheer$$$$,
Harlan Lunsford, EA n LA

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daveA wrote:
- quote -

I've heard of hard money before, but what is a "hard money
loan"?

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I purchased a investment home in December 03 with hard
money. The loan was paid off in March 04. I do not need
the deductions for 03 and would like to take them in 04.

Are hard money loan costs deducted when it is payed off or
when the loan is taken out? I would really like to find a
way for the latter.

Thanks
dave

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