Rhode Island Nesties
dimples112
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
tax question/home equity loan question?
if you took out a home equity loan can that loan be claimed in your taxes? and does the bill have to be in the persons name that is filing the taxes? Just curious bc my husbands boss earlier this year asked him to go into partnership and we couldn't get a home equity loan on our home bc of the value right now. So his dad help him but the bill for this loan goes to the dad and has only the dad's name on it but we pay for it each month. Now I am wondering if that will pose an issue if we can put the home equity loan in our taxes. TIA!
Re: tax question/home equity loan question?
From what I understand, if you meet certain rules you can deduct home equity loan interest. Some info here, although it's an IRS website so it's still somewhat confusing... mostly it's just rules on how much debt you can have and still claim the interest.
But... the loan would need to be in the filer's name. The mortgage interest gets reported by the lien holder in the name of the person on the loan, and only that person can claim the interest. Maybe your FIL will give you the extra $$ he gets back on his taxes since you are the ones that paid the interest?