Mortgage interest deduction on a second (rental) home | TigerDroppings.com

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siliconvalleytiger
LSU Fan
Northern California
Member since Apr 2004
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Mortgage interest deduction on a second (rental) home


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.







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SippyCup
New Orleans Saints Fan
Member since Sep 2008
1328 posts

re: Mortgage interest deduction on a second (rental) home


You have to report the rental income and you can deduct the mortgage interest from that income.

Schedule E






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