[[.Is mortgage interest deductible on a second home if it is NOT your
primary residence? ]]

Yup...generally...depending upon a number of circumstances.

[[In addition, Does it make a difference if you no longer have a motgage on your
primary home???]]

Nope.

[[ The mortgage on my primary home will be paid off in a year or so...]]

Congratulations.

You'll deduct the mortgage interest on Schedule A. There are various restrictions for mortgages in general, and you should really read IRS publication 936 to understand more about mortgages for both your first and second home.

TMF Taxes
Roy

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