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dchamp1061
Jan 13, 2007, 03:47 PM
can you itemize interest an taxes from 2005 on your 2006 if you didnt in 2005
i did have enough to itemize in 2005 an dont want to loose out on what ive paid in interest
AtlantaTaxExpert
Jan 13, 2007, 04:44 PM
You can only itemize taxes and mortgage interest PAID in 2006 on your 2006 tax return.

If you failed to claim these deductions for 2005 because you did not have enough to exceed the standard deductions, then you lose the deductions UNLESS the mortgage interest is points and/or loan origination fees, in which case they can be amortized over the life of the loan.

Sorry!