- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Yes. Home mortgage interest is deductible, but a "Transient Basis", such as a hotel room, never counts. A boat or motor home COULD, but not if you are subjected to AMT. So, under AMT the condo counts. Additionally the interest must be on a loan that applies to the acquisition of the home, you cannot claim interest on a home equity line of credit used for anything other than improving the home when subject to AMT.
Click here for information about AMT
‎June 6, 2019
8:42 AM