Does buying a farm in a different state have any impact on my tax return? I live in KY, bought family farm in PA last Oct. Property taxes had already been paid for year.

[DavidS127]

If the family farm is a second home for you--and you don't rent out the residence--you can deduct the same things you can for your primary residence:  property taxes and mortgage interest.   If you do rent out the residence, you must use it for more than 14 days or more than 10% of the number of days you rent it out, whichever is longer, for the mortgage interest to be deductible.

If it is not a second home, only the property taxes are deductible.

If you rent the property or engage in a bona fide farming operation, there are other tax consequences.