Is the interest paid on a Mortgage on a second Home deductible from Incone Taxes?

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Is the interest paid on a Mortgage on a second Home deductible from Incone Taxes?

2006-06-26 07:49:17 · 4 answers · asked by capaldi30 1 in Business & Finance ➔ Taxes ➔ United States

4 answers

Absolutely! You can deduct mortgage interest and property taxes for both your main home and your second home. This is deductable on the Schedule A (sometimes referred to as a long form). Taxpayers use the Schedule A when total deductable expenses exceed the Standard Deduction for your filing status.

2006-06-26 13:35:26 · answer #1 · answered by lade40free 2 · 0⤊ 0⤋

yes

2006-06-26 08:53:20 · answer #2 · answered by Anonymous · 0⤊ 0⤋

Yes, but I think there are limits

2006-06-26 09:13:15 · answer #3 · answered by ps2754 5 · 0⤊ 0⤋

yes, its deductible :-)

2006-06-26 21:19:50 · answer #4 · answered by Anonymous · 0⤊ 0⤋