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Lev, Tax Advisor
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is mortgage interest on a non owner occupied ...

Resolved Question:

is mortgage interest on a non owner occupied property tax deductible?
Submitted: 6 years ago.
Category: Tax
Expert:  Lev replied 6 years ago.
Please clarify - did you pay real estate taxes for someone else?
Customer: replied 6 years ago.
Reply to LEV's Post: No. My job asked me to move to a different city to assist them with a project so I have been renting out my home since June of 2007. I did not even consider that the move might affect if I can claim my mortgage interest as a tax credit or not. Now I am very concerned
Expert:  Lev replied 6 years ago.

As you rented your property - you would need to declare a rental income on the schedule E - http://www.irs.gov/pub/irs-pdf/f1040se.pdf - and not just mortgage interest - but most expenses in connection to this property will be deductible.

Mortgage interest will be deductible on the line 12. Please review other items on the form.

Lev, Tax Advisor
Category: Tax
Satisfied Customers: 22991
Experience: Taxes, Immigration, Labor Relations
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Lev
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Taxes, Immigration, Labor Relations