Hal_Al
Level 15

Deductions & credits

The actual purchase of the property is not entered anywhere on your tax return.

If you itemize deductions, you may deduct the real estate tax paid, including the tax paid at closing.

Since it is not really a 2nd home, yet, you cannot deduct mortgage interest.

Mortgage interest is only deductible, as an investment expense,  to the extent of other investment income, 

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