K
kevincb
Guest
Hello,
I am wondering is it possible to write off mortgage interest against you overall taxable income?
My situation is I am planning to move back to Ireland from UK where I have lived and worked for the last number of years.
A few years ago I bought the house I live in with my friend.
Due to the current economic climate the house's value has fallen so much that selling is not an option and my friend can not buy me out.
I can not afford the mortgage payments for the house if I am not living in it and renting the room is not really an option as the house would need a lot of work before you could have tenants. (Also my friend still lives in the property and does not want strangers in the house)
I am wondering is it possible to write off mortgage interest against you overall taxable income?
My situation is I am planning to move back to Ireland from UK where I have lived and worked for the last number of years.
A few years ago I bought the house I live in with my friend.
Due to the current economic climate the house's value has fallen so much that selling is not an option and my friend can not buy me out.
I can not afford the mortgage payments for the house if I am not living in it and renting the room is not really an option as the house would need a lot of work before you could have tenants. (Also my friend still lives in the property and does not want strangers in the house)