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Updated over 6 years ago,
Mortgage Interest Deduction on Investment
Hi! I'm new here and I have a basic question. I own a Single Family home and deduct my mortgage interest. If I am buying an investment property am I also allowed to deduct my Mortgage interest? For investment properties (assuming I owned 10) is there a limit to how much mortgage interest you could deduct in total? Finally could you deduct mortgage interest in one property to reduce your tax liability from different property?
Thanks!
K