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MOORE’S SERVICES is a full service Tax Preparation Company that provides year-round services. We specialize in both individual and business taxes. We also offer Notary Public Services. Come in and see us today.

Saturday, January 19, 2013

Is interest on a home equity line of credit deductible as a second mortgage? ALABAMA'S MOST RELIABLE TAX SERVICE


You may deduct home equity debt interest as an itemized deduction, if all the following conditions apply:
  • You are legally liable to pay the interest
  • You pay the interest in the tax year
  • The debt is secured with your home
  • The home equity debt is limited to the fair market value of the home reduced by home acquisition debt, up to a total of $100,000 ($50,000 if filing as married filing separately).



MOORE'S SERVICE, LLC
2160 Green Springs Hwy, S. Suite E. 
Brimingham, AL 35205
Phone: (205) 324-8753
Email: mooresservices1@gmail.com
Website: www.mooresservicesonline.com
Blog: www.mooresservices.blogspot.com

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