- Tax DeductionsThe interest on a loan that is greater than the fair market value of the home is not tax-deductible for federal income tax purposes. Members should consult a tax professional regarding the tax deduction of their mortgage interest and charges.
- Income TaxInterest on a home that is greater than the fair market value of the home is not tax-deductible for federal income tax purposes. Please consult a tax advisor regarding the tax deductibility of interest and charges.
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