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If we owned 3 homes in 2017 at the same time, how do we figure which two homes' mortgage interest to deduct? Do we deduct real estate taxes on all three?
Home #1: bought Dec 2014. Moved out Jul 2017. On market Oct 2017. Sold Jan 2018. Paid real estate taxes and mortgage interest.
Home #2: 2nd home/vacation home. Bought Oct 1016. We still own it. Paid RE taxes and HELOC interest.
Home #3: bought Dec 2017. It is our current primary home. Paid RE taxes (prorated at closing), prepaid interest and VA funding fee (Mortgage Insurance Premium on form 1098).
Ownership of Homes #1 and #3 (both primary) overlapped by about 13 days (end of December 2017). Do we prorate the interest on Home #1 through closing of Home #3?
Do we deduct all the RE taxes on all 3 homes or must we prorate one?
‎June 1, 2019
12:37 PM