- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Mortgage interest deduction on a second (rental) home
Posted on 1/19/13 at 6:09 pm
Posted on 1/19/13 at 6:09 pm
Does anyone have experience with this? If I live in my primary residence and rent out a second property, am I allowed to deduct the mortgage interest on both homes? If not, can I deduct the rental 'income'?
I'm thinking about doing this in a couple of years and want to learn the tax consequences of buying a new home and renting out my existing one.
I'm thinking about doing this in a couple of years and want to learn the tax consequences of buying a new home and renting out my existing one.
Posted on 1/19/13 at 6:14 pm to siliconvalleytiger
You have to report the rental income and you can deduct the mortgage interest from that income.
Schedule E
Schedule E
Back to top
Follow TigerDroppings for LSU Football News