No, you cannot deduct last year's mortgage-interest expense this year. Itemized deductions for any tax year can only reflect payments you made in that year.
Articles in this section
- If I were to make a gift of money to a friend or family member in financial difficulties, would I be able to declare it as a charitable gift on my tax return?
- How are deductions handled when married persons file separate returns? Most of the expenses come out of a joint account; must they be split in half?
- I was not able to itemize my mortgage interest last year since I didn't have enough deductions to itemize. Can I add this interest to this year's amount and deduct them both?
- My husband and I have a mortgage on our home, an RV and a time-share. Can we deduct the mortgage interest we paid on all three of these?
- My spouse has dementia and requires in-home care. Is this expense deductible?