Can i deduct the interest on a loan used to buy a second home

[raydaltonks]

I used my current home as collateral to get a loan to buy a second home.  Is the interest on that loan for the second home deductible?

[KatherineC · Accepted solution]

Yes, you can deduct the interest on a loan used to buy a second home.  You can also deduct the amount of real estate taxes paid on the second home.

For further information, please look at the TurboTax link below:

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Buying-a-Second-Home/INF12015.html