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Are home loan modification fees tax-deductible?

We paid $1500 to a compny to negotiate the terms of a home loan modification (unsuccessfully). Is this fee tax-deductible? Fontana,CA | Jan 21st 2010
by Brandy
Answer


by LHARVEY

Our Tax professional says no. That fee is similar to a legal fee for other services which also is not deductible. The tax mod company should have refunded the fee if they were not successful like most reputable companies do.

Jan 22nd 2010
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by Debra C...

I do not believe they are, but you should really discuss with your tax accountant.

Jan 21st 2010
0
0
by jmarr91

Not deductible. Also, if the company is not reputable, I would report them. Did you sign an disclosure agreement concerning their fees?

Mar 10th 2010
0
0

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