sfciver
New Member

Deductions & credits

Thanks.   So if I designate my new home with a higher interest rate as my primary residence, can I deduct all the interest from the new home first and then allocate the remaining cap to the second home?   

 

So say I have $100K new loan at 7% and $2M old loan at 3%, can I deduct all the interest from the 100K loan and then deduct the remaining 650K of cap from my previous loan?