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AILEEN SIAPNO
Mar 6, 2004 - 10:17PM
TAX SHELTER

MY MOM OWNS A CONDO, SHE JUST GOT IT A YEAR AGO BUT THE PERSON PREPARING HER INCOME TAX SAYS SHE HAS TO PAY $1500 COS SHE IS NOT CLAIMING ANYBODY, IS THIS TRUE?
SHE DOESN'T LIVE IN THE CONDO COS ITSON MAUI AND SHE IS STILL IN CA. WORKING AND RENTS A STUDIO THERE, I LIVE IN THE CONDO THOUGH ITS NOT A RENTAL PROPERTY.
THANKS FOR YOUR TIME.


AILEEN

Zip Code: SIAPNO@HOTMAIL.COM

g
Gary Davis CPA
Mar 14, 2004 - 7:02PM
Re: TAX SHELTER

The condo sounds like a second home, which would allow her to deduct the mortgage interest and real estate taxes associated with it.

Why she owes $1500 isn't clear from your email. There are a lot of things that go into why someone would owe taxes. "Not claiming anyone" is too general to be able to give you a better answer.

Zip Code: garyd@davisandbrandel.com

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