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You can take deduction for taxes and interest on second home (1 viewing)
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TOPIC: You can take deduction for taxes and interest on second home
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LynChen (User)
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graphgraph
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Tax deduction for property tax * Interest on second house 2006/10/04 12:57 Karma: 0  
Can I get tax deduction for property tax &interest mortgage that I pay on my second house. I have two houses, I live in one and rent out the other during the season.
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taxhelpaid (User)
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graphgraph
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You can take deduction for taxes and interest on second home 2006/10/05 06:43 Karma: 0  
IRS allows you to take deduction for property taxes and interest on your primary home and second home. If you rent out the second property for long it may be classified as investment property and you can deducts all the expenses as investment costs. Check with a tax professionals with all data, they will figure it out whether to treat your second home as investment property or your second one a vacation home.
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