@mostgrateful1 wrote:
Is there some other way to treat the interest? If it were a mortgage on the second homecwould that be deductible?
A margin loan is not a mortgage. Mortgage interest is only deductible if the mortgage is secured by your home and is recorded as a mortgage by the appropriate local government agency. You cannot treat interest on a margin loan as if it were mortgage interest. There is no other way to treat the margin loan interest.
