TurboTax FAQ
TurboTax FAQ
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Can I deduct mortgage interest on a second home?

You can deduct mortgage interest on a second home as an itemized deduction.  If you rent out your second home, you must also use it as a home during the year.  You must use it more than 14 days or more than 10% of the total days it is rented out, whichever is longer. 

If you do not use the home long enough, it is considered a rental property.  You can then deduct the mortgage interest as a rental expense.  

Note:  Mortgage interest can only be claimed on a maximum of two homes (main home and a second home).