Bloomberg Tax
May 25, 2023, 2:43 PM

Case: Tax Court’s Decision Denying Home Mortgage Interest Deduction in Foreclosure Sale Is Vacated, Remanded (11th Cir.) (IRC §163)

The U.S. Tax Court’s Sept. 16, 2022 decision is vacated and remanded in full with instructions to further remand the matter to the Commissioner for the purpose of conducting further proceedings as outlined in Appellee’s motion, the 11th Circuit Court held. Appellee’s consent motion for vacatur and remand was granted by the court. The Tax Court in a memorandum opinion had denied Taxpayers a home mortgage interest deduction after the foreclosure sale of their home for failure to produce evidence. [Howland v. Commissioner, No. 22-13744 (11th Cir. May 16, 2023)]

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