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I purchased a rental property with a mortgage against my home.

Customer Question
Is the mortgage interest deductible...
I purchased a rental property with a mortgage against my home. Is the mortgage interest deductible from the rental income?
Submitted: 7 years ago.Category: Tax
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Answered in 1 minute by:
1/3/2011
Tax Professional: RD, Certified Public Accountant (CPA) replied 7 years ago
RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8,784
Experience: CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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RD :

Yes, since the loan was used to finance the rental property, you will deduct the mortgage interest against the rental income.

RD :

Let me know if you have any questions.

RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8,784
Experience: CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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