Tax’s vs Equity - would it hurt to much?

[Renee Lee]

My questions stem from velocity banking...



1. I know there is a tax deduction for writing off the interest on an investment property is it dollar for dollar?

2. Let’s say, an investment property has a mortgage and the landlord was to throw an Extra $20,000 at the principal. Extra $20 hit the Mortgage principal in 2019, in year 2020 do nothing but make the required payments to the bank. In 2020 - assuming the tax code did not change when the landlord be entitled to write off the interest? In 2019 with the extra money the landlord shows a gain and would not be allowed to do so correct?