Thanks so much for your reply! Great insights!
Now to make the situation even more interesting, what will happen in the following two situations:
1) I rent out my old home for the whole year, now that home is no longer a second home I think. But can I deduct the mortgage interest against the rental income as part of the expense?
2) I sell my old home. Now I still have a mortgage secured by my main home , but no longer have a second home. After the sale, is there a way I can still deduct the mortgage interest?
Thanks so much!!
