36790
You'll need to sign in or create an account to connect with an expert.
It should be included as one of your rental expenses for determining net rental income on Schedule E. Along with all the other rent related expenses for this property, such as property taxes, homeowner association fees, repairs and maintenance, depreciation, etc.
**************************************NOTE*************************************
As Zbucklyo noted below, only the interest is deductible, not the entire mortgage payment. I did not notice the reference to the "mortgage payment" as opposed to just the "mortgage interest". Thanks to Zbucklyo for this correction.
It should be included as one of your rental expenses for determining net rental income on Schedule E. Along with all the other rent related expenses for this property, such as property taxes, homeowner association fees, repairs and maintenance, depreciation, etc.
**************************************NOTE*************************************
As Zbucklyo noted below, only the interest is deductible, not the entire mortgage payment. I did not notice the reference to the "mortgage payment" as opposed to just the "mortgage interest". Thanks to Zbucklyo for this correction.
The mortgage interest is deductible as an expense, not the entire mortgage payment.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
deannarippy
Level 2
PatricioE
Level 1
mc510
Level 2
nancygreco777
New Member
dlam123
Level 2