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 Interest for MRTA during construction

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vinceleo
post Oct 24 2019, 05:34 AM

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How to calculate the interest portion for tax deductibles? Appreciate the sharing

QUOTE(BEANCOUNTER @ Oct 23 2019, 10:13 AM)
whoa...…...you are paying 60k or more at the end of MRTA...…(assume 30k was the original sum).

When I bought MRTA some 25+ yrs ago, you either pay cash or max like 10 years only.

of course the good thing is IF your property is for investment purpose, you can claim the interest portion inclusive of yr mrta portion as tax deductibles
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vinceleo
post Oct 25 2019, 10:00 PM

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Thanks for inputs

QUOTE(mini orchard @ Oct 24 2019, 08:30 AM)
Not necessary to calculate.

Refer to your yearly loan statement. The interest portion charged is shown every month.
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