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Path: utzoo!watmath!clyde!bonnie!wjh
From: wjh@bonnie.UUCP (Bill Hery)
Newsgroups: net.taxes
Subject: Re: taxes & home purchase
Message-ID: <531@bonnie.UUCP>
Date: Fri, 16-Aug-85 16:26:55 EDT
Article-I.D.: bonnie.531
Posted: Fri Aug 16 16:26:55 1985
Date-Received: Sun, 18-Aug-85 04:04:41 EDT
References: <1793@bmcg.UUCP> <4154@alice.UUCP>
Organization: AT&T Bell Laboratories, Whippany NJ
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> 
> Your first mortgage payment isn't due unti May 1.  Payments will be
> due the first of each month thereafter.  Thus, this year you can deduct
> payments you made on the first of May, June, July, August, September,
> October, November and December.  You have to wait until next year
> to deduct the payment you made on January 1.
> 
If you want to deduct the Jan 1 payment this year, pay it on Dec. 30.
Make sure you get a separate rct. from the bank dated Dec. 30, since they
will probably credit your account on the next business day (which is next
year).  As far as IRS is concerned, it's the date you actually PAID the
interest that counts.