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Deductions & credits
Maybe, and only if you itemize. If it qualifies as your second home, then the interest is deductible on sch A, itemized deductions.. About Schedule A (Form 1040), Itemized Deductions - Internal Revenue Service says:
A home mortgage is any loan that is secured by your main home or second home, regardless of how the loan is labeled. It includes first and second mortgages, home equity loans, and refinanced mortgages.
A home can be a house, condominium, cooperative, mobile home, boat, or similar property. It must provide basic living accommodations including sleeping space, toilet, and cooking facilities.
See also Top Standard vs. Itemized Deduction FAQs
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‎February 15, 2022
7:47 PM