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    lrusch's Avatar
    lrusch Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 22, 2009, 12:50 PM
    How do I deduct interest this year from previous years taxes
    Can I deduct interest this year that I paid in 2006?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Mar 22, 2009, 12:57 PM

    Interest on what?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    May 13, 2009, 11:38 AM
    Does not matter what the interest is on, you CANNOT claim interest paid in 2006 on your 2008 tax return.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #4

    May 13, 2009, 12:38 PM
    Quote Originally Posted by AtlantaTaxExpert View Post
    Does not matter what the interest is on, you CANNOT claim interest paid in 2006 on your 2008 tax return.
    However, you CAN file an amended return for tax year 2006 - that's form 1040X. You have 3 years from the date of your original 2006 tax return to file an amended return and get a refund back - so that gives you until April 15, 2010 to file the amended return.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #5

    May 13, 2009, 12:45 PM
    Agreed! Good point, ebaines!
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
    Tax Expert
    		  
    #6

    Jun 12, 2009, 07:01 PM

    Only certain types of interest paid are deductible for tax purposes (typically mortgage interest and investment interest).
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