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Financial Planning / Tax Strategies
|Subject: Re: Tax Q's on financing on an investment proper||Date: 9/3/2013 12:21 PM|
|Author: TMFPMarti||Number: 119125 of 125203|
I am trying to figure out if the tax write offs are different whether we get a home equity loan on our own house or a mortgage on the rental house.
You definitely want to deduct the interest as a rental expense. I believe that you can deduct the home equity interest as a rental expense as long as you have adequate tracking to show that's how the proceeds were used. Try Pub 535.
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