<VV> taxes

[Dave Keillor]

Technically, Marc is correct.  Practically, as far as I know, the IRS
has let this one slide -- so far. Equity?  There is still a lot of that
out there -- especially for those of us who have lived in their home for
quite a long time and haven't lived in a "bubble" region.

Dave Keillor

-----Original Message-----
From: virtualvairs-bounces at corvair.org
[mailto:virtualvairs-bounces at corvair.org] On Behalf Of Marc Marcoulides
Sent: Sunday, February 22, 2009 2:04 PM
To: virtualvairs at corvair.org
Subject: Re: <VV> taxes

no, only if for purchase or improvement of your home or 2nd home

-----Original Message-----
>From: shortle <shortle556 at earthlink.net>
>Sent: Feb 22, 2009 11:53 AM
>To: Marc Marcoulides <hharpo at earthlink.net>, virtualvairs at corvair.org
>Subject: Re: <VV> taxes
>
>But the interest paid on a home equity loan is deductible (depending on
your tax situation) regardless of what you do with the money.
>But I thought equity was a thing of the past that we all used to have. 
>Timothy Shortle in (no equity) Durango Colorado 
>