1. Home
  2. Taxes General Forum
  3. Re: deducting the Florida intangible tax

Re: deducting the Florida intangible tax

I am not confusing the doc stamp with the remnants of the Florida intangible tax. To quote from the Florida Dept of Revenue: The repeal [of the Annual Intangible Personal Property Tax] DID NOT include: The nonrecurring tax on a note, bond, or other obligation for payment of money that is secured by a mortgage deed or other lien on real property...

formatting link
It is paid on certain refinancing, home equity loans, etc. and is a separate line on the HUD form So I will repeat my original question, is this a personal property tax? Should it be deducted on Schedule A?

> > > > > > > > >
Reply to
Brew1
Loading thread data ...

Well, a mortgage is an intangible, so I can see how you call it that. anyway,..... It's not a property tax. That is one assessed ON the property. A mortgage note is not the property, which is tangible, therefore the mortgage is an intangible. Which brings us back to square one. ChEAr$, Harlan Lunsford, EA n LA

Reply to
Harlan Lunsford

Not to belabor the subject, but the quotation describes the documentary stamp tax quite accurately . The deductibility question can be answered via a simple Google search.

Reply to
William Brenner

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.