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Investors & landlords
As of 2018, a mortgage secured by your primary residence is deductible on your personal taxes only if it the proceeds were use to buy, refinance, or improve your primary residence. You cannot (and Turbotax 2018 asks!) deduct a mortgage used for any other purpose on your personal taxes. Instead, you need to allocate the interest to the rental property and list it there... with an explanation.
‎June 4, 2019
6:25 PM
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