trixam53
Jul 5, 2007, 12:01 AM
IRS Publication 936, subheading "Fully deductible interest", category #2 says:
"2. Mortgages you took out after October 13, 1987, to buy, build, or improve your home (called home acquisition debt), but only if throughout 2006 these mortgages......"
My question is: if a first-time home buyer takes out a first mortgage (home acquisition debt) in 2007, will the "throughout 2006" mean "throughout 2007"?
"2. Mortgages you took out after October 13, 1987, to buy, build, or improve your home (called home acquisition debt), but only if throughout 2006 these mortgages......"
My question is: if a first-time home buyer takes out a first mortgage (home acquisition debt) in 2007, will the "throughout 2006" mean "throughout 2007"?