Building second home

[eduardtorar]

what is tax deductible in the case above?

[evelynm]

Hello:

You can always enter mortgage interest and property tax for a second home that you own.   Your mortgage interest is limited to $750,000 of debt secured by your first and second home.

Also, real estate taxes limit is part of the $10,000 annual ceiling relating the total of all state and local taxes deducted, including property and income taxes.

Here is a link for further details:  https://turbotax.intuit.com/tax-tips/home-ownership/buying-a-second-home-tax-tips-for-homeowners/L5M...