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AzJose
Jan 25, 2007, 12:49 PM
Curious if interest paid on a judgement would be able to claimed as a deduction? :confused:

I am claiming Mortgage Interest, Property Tax so far.

Also is a 1099-C claimed the same as 1099-Misc?

Thanks Much!

AtlantaTaxExpert
Jan 25, 2007, 07:20 PM
Interest on a judgement is considered personal interest and is NOT deductible.

Form 1099-C income is NOT claimed the same as 1099-MISC. It is claimed on Line 21 of Form 1040 as "OTHER INCOME".