What? You can't deduct that!

by prash on 08 Jan 2007

With the 2006 tax-filing season upon us, Bankrate.com is back with some of the Craziest tax write-offs you’ve ever heard of. This one is a doozy:

The deduction was legitimate; it was the underlying asset that proved to be the problem.

“We were going over their tax information and the tax manager asked the gentleman, ‘Now what about the mortgage interest deduction for the condo in Utah?’ Unfortunately, the wife didn’t know about the condo in Utah, where he had set up his mistress. It was a big ‘oops’ moment. There was this stony silence in the room. It was absolutely awful,”.

Read them all

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