pk
Level 15
Level 15

Deductions & credits

@nailtech123 , are you asking if the mortgage interest on your agricultural property ( FARM )  on which your house sits should be reported as an expense to your Farm or on your home ?  Or are you asking  if because you use your home ( part of ? ) as a place of business ( firm / LLC/ Sole-proprietor ), that you should deduct mortgage interest as a business expense ? 

 

I cannot answer the question with any certainty because  it depends on the actual facts and circumstances --- but generally  I would not suggest deducting all of  home mortgage interest  ( if the second case above is true ) as a business expense.   Please provide more details --- and I will circle  back and help

 

pk