Paying off a mortgage


If I have a lump sum business payout that will allow me to pay off my mortgage five years from now, how can I accurately reflect that in the software?


dan royer's picture

Give yourself a special receipt for five years from now with appropriate tax consequences and make sure to think about it coming in today's dollars or simply dollars. Next indicate a "first change of home" with 100% down at a cost of whatever your mortgage balance is for that year (see housing report). Be sure to change the housing sale commission in Assumptions to 0. I think this will get it.


Thanks; Since you are trying to help under two different questions I asked that are for the same situation, I won't continue with this question. We can just use the other one.


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