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Investors & landlords
Yes, you can, if you own the building (which you say you do) and the mortgage note is secured by the building.
The IRS lets you deduct your mortgage interest if
- The loan is secured, which means the lender has some kind of guarantee of payment, usually in the form of property. If a borrower defaults on payments, the lender can seize the property that’s securing the loan. If you’re buying or refinancing a home, especially if it’s your first home, the loan is usually secured by the home you’re buying or refinancing.
June 6, 2019
12:57 AM