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homeowner
New Member

I have four homes and I am paying mortgage interest on the last home that I bought. Is that mortgage interest tax deductible?

 
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Opus 17
Level 15

I have four homes and I am paying mortgage interest on the last home that I bought. Is that mortgage interest tax deductible?

You can deduct mortgage interest you pay on your primary residence and one second home.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

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6 Replies
Opus 17
Level 15

I have four homes and I am paying mortgage interest on the last home that I bought. Is that mortgage interest tax deductible?

You can deduct mortgage interest you pay on your primary residence and one second home.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
homeowner
New Member

I have four homes and I am paying mortgage interest on the last home that I bought. Is that mortgage interest tax deductible?

Thanks for your response. In my case, the first three homes that I bought do not have any mortgage. The fourth home that I bought in a different state has a mortgage. Can I deduct this fourth home mortgage interest? Thanks.
homeowner
New Member

I have four homes and I am paying mortgage interest on the last home that I bought. Is that mortgage interest tax deductible?

Thanks for your response. In my case, the first three homes that I bought do not have any mortgage. The fourth home that I bought in a different state has a mortgage. Can I deduct this fourth home mortgage interest? Thanks.
Zbucklyo
Level 9

I have four homes and I am paying mortgage interest on the last home that I bought. Is that mortgage interest tax deductible?

Yes, you can.  You can deduct mortgage interest on your primary residence and one second home.
Opus 17
Level 15

I have four homes and I am paying mortgage interest on the last home that I bought. Is that mortgage interest tax deductible?

You can designate any of your homes as the "second home" for the deduction (except your primary residence).
*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
homeowner
New Member

I have four homes and I am paying mortgage interest on the last home that I bought. Is that mortgage interest tax deductible?

Thank you. That clarifies things clearly.
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