Tax Deduction for Rental Property Mortgage Interest

[Keith Hoffman II]

My accountant told me that b/c my income is over 150K, the interest paid on my rental property mortgages are not deductible.   I would only be able to claim these ductions if my income falls below 150K or when I sell the properties.   Is this accurate?

I also have a HELOC on one of my rental properties. I took a draw to use as a down payment for another rental property. I was also to that the interest paid on the HELOC was not deductible either.

The high income is from my W2 job.  I understand my passive losses cant be used to reduce my active tax liability.  BUT I want to think that the rental property mortgage interest would be able to offset the rental properties taxable incomes and even be "banked" if all of my total losses exceeded the 25K per year loss limits.