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Mortgage pre-payment penalty
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not
been recently reviewed or revised by the author and may be out of date.
If you notice an error or are in doubt, please send a new question by
email or ask for an update. Email asktony@tonynovak.com.
Q: If I pay a mortgage
pre-payment penalty, is this tax deductible as additional mortgage
interest?
A: Yes, according to IRS
Publication 936, you can deduct that penalty as home mortgage interest
provided the penalty is not for a specific service performed or cost
incurred in connection with your mortgage loan.
Summary
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