[quote=flu]you guys are lucky… in Carmel V, asked if I can pay off my MR early, since I’m already hitting AMT. San Dieguito and Del Mar MR you cannot pay off early. However, I believe my MR is done soon anyway, and MR in CarmelV isn’t as much as where you are.
As far as tax deductibility: if you are hitting AMT, property taxes deduction doesn’t help that much since it’s not counted as part of AMT deduction.
I believe you would be better off either cash out refinancing or if your HELOC has a ceiling, using that… I believe in those cases, you can write off your mortgage interest on the money you borrow, up to $100k i believe.[/quote]
Agree. Tax advisor said he does consider the HELOC for MR payoff as “home improvement.” We actually took out a HELOC to pay the MR off.
