Can mortgage interest be deducted from AMT when loan is used to purchase rental property?

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Can mortgage interest be deducted from AMT when loan is used to purchase rental property?

2007-03-22 10:19:03 · 2 answers · asked by boop30 1 in Business & Finance ➔ Renting & Real Estate

2 answers

Consult a tax professional. The vagaries of AMT are probably a little much to take an answer off here as valid.

2007-03-22 10:23:47 · answer #1 · answered by Yanswersmonitorsarenazis 5 · 1⤊ 2⤋

If you have a mortgage on rental property, the interest paid is an expense associated with producing income from the apartments and is deducted from the apartment income on Schedule E.

2007-03-22 17:23:54 · answer #2 · answered by Jo Blo 6 · 1⤊ 0⤋