<<Probably. All the gory details, including the limitations, are in IRS Publication 936.>>Thanks for the direction, Phil.I finally got a chance to look at Pub. 936 on the IRS site and found this on page 2:<snip>“Qualified HomeFor you to take a home mortgage interest deduction, your debt must be secured by a qualified home. This means your main home or your second home…”“…A second home is a home that you choose to treat as your second home.Second home not rented out.If you have a second home that you do not hold out for rent or resale to others at any time during the year, you can treat it as a qualified home. You do not have to use the home during the year.”<end snip>The part I need more clarity on is the where it says “…do not hold out for rent or resale…” Since I'm trying to sell the first home, does that mean I'm “holding it out for resale” and cannot, therefore, take the interest deduction on it?Thanks again!
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