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New Member
posted Jun 4, 2019 1:56:28 PM

Can I deduct mortgage interest and property taxes I pay on three homes and several time-shares I own for my own family's use?

Can I deduct property taxes on three homes and several time shares I won for my own family's use?

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1 Best answer
Level 15
Jun 4, 2019 1:56:36 PM

You can deduct the property tax (real estate tax) that you pay on all the properties that you own. However, for 2018 through 2025, the total deduction for state and local taxes is limited to a maximum of $10,000 per year. The maximum applies to the total of real estate tax, personal property tax, and either state and local income tax or state and local sales tax.

You can deduct mortgage interest on only your own primary home and one other home.

4 Replies
Level 15
Jun 4, 2019 1:56:30 PM

Is all the real estate involved here, all 100% personal use? Or are you including rental property that you own too?

Level 15
Jun 4, 2019 1:56:31 PM

Are you (and/or your spouse) the sole owner of all these properties?

New Member
Jun 4, 2019 1:56:34 PM

I and spouse are the sole owners and none is rental - used by our family

Level 15
Jun 4, 2019 1:56:36 PM

You can deduct the property tax (real estate tax) that you pay on all the properties that you own. However, for 2018 through 2025, the total deduction for state and local taxes is limited to a maximum of $10,000 per year. The maximum applies to the total of real estate tax, personal property tax, and either state and local income tax or state and local sales tax.

You can deduct mortgage interest on only your own primary home and one other home.