https://www.taxtmi.com/forum/issue?id=115945 The query asks whether interest paid under a reverse mortgage tied to an annuity can be deducted when computing capital gains on sale to repay the loan. The adviser requests factual specifics on ownership, mortgage creation, and the seller, and notes that allowable costs are determined after applying the cost inflation index. The adviser indicates that interest generally may not be allowed as an expenditure for capital gains computation, with deductible items confined to acquisition cost, indexed cost adjustments, and qualifying improvements. en-us Tue, 28 Jan 2020 13:34:32 +0530 Thu, 23 Jan 2025 15:54:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115945 The query asks whether interest paid under a reverse mortgage tied to an annuity can be deducted when computing capital gains on sale to repay the loan. The adviser requests factual specifics on ownership, mortgage creation, and the seller, and notes that allowable costs are determined after applying the cost inflation index. The adviser indicates that interest generally may not be allowed as an expenditure for capital gains computation, with deductible items confined to acquisition cost, indexed cost adjustments, and qualifying improvements. Discussion-Forum Income Tax Tue, 28 Jan 2020 13:34:32 +0530 https://www.taxtmi.com/forum/issue?id=115945