Own a home that is vacant and for sale and paying the mortgage, can I claim the monies I paid as a loss And claim it in my tax return. I have a real estate contract

[MichaelL1 · Accepted solution]

If the home is not available for rent, then the mortgage interest and property taxes are claimed as if it were a 2nd home (which is similar to your main residence).

If the home was available to be rented while for sale, then it goes on the rental schedule.

The payments themselves are not deductible, only the interest and property taxes.