Money Matters
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.

Are these tax deductible?

Can you deduct anything from a mortgage refi (other than MI or points)?  Can you deduct a gift to a family member to pay for a medical item?  Thanks!
BabyFruit Ticker Lilypie Maternity tickers

Re: Are these tax deductible?

  • Interest and points.  There is a real estate publication available from the Irs at IRS.gov.. 

     Gifts over a certain amount are taxable to the giver.  I believe the amount is around $12,000.  

     Medical expenses are decutible to the payee (the sick person) if the total of all medical expenses for that filer (family)  in that year is greater than 7.5 % of that filers (family's) adjusted income.  

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