topic Purchase 50% of a second home (vacation) what can I write off in Deductions & credits

Purchase 50% of a second home (vacation) what can I write off

T2021 — Mon, 05 Apr 2021 17:43:40 GMT

Re: Purchase 50% of a second home (vacation) what can I write off

Anonymous_ — Mon, 05 Apr 2021 17:54:08 GMT

Duplicate post.

See I brought 50% ownership in a Vacation Home what ca... (intuit.com)

Re: Purchase 50% of a second home (vacation) what can I write off

Cynthiad66 — Mon, 05 Apr 2021 18:47:21 GMT

You can deduct property taxes and mortgage interest on your second home. In fact, unlike the mortgage interest rule, you can deduct property taxes paid on any number of homes you own. However, beginning in 2018, the total of all state and local taxes deducted, including property taxes, is limited to $10,000 per tax return. Of course up to the percentage of ownership of the property.

Use this link for additional details: Tax Breaks on Second Home