Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are reverse mortgage payments to taxpayer considered in household income calculations to qualify for MI homestead credit?

0
0 Posted

Are reverse mortgage payments to taxpayer considered in household income calculations to qualify for MI homestead credit?

0
0

I believe reverse mortgage payments are classified as “Loan Proceeds” In the 2007 Mi-1040-CR booklet on page 17&18 under what “Household income does Not include”, loan proceeds are on the list.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123