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Is home mortgage to buy another house considered income?

I obtained a home mortgage on my own home to buy another home that became a rental property.

Is the money I received considered income (and taxable)?

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Accepted Solutions
ColeenD3
Expert Alumni

Is home mortgage to buy another house considered income?

Not at all. You are borrowing the money and will have to pay it back.

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1 Reply
ColeenD3
Expert Alumni

Is home mortgage to buy another house considered income?

Not at all. You are borrowing the money and will have to pay it back.

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