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S
sbgcpa872
Level 1
January 6, 2025
New

do I have to allocate rental mortgage interest like home mortgage interest

Related products:Lacerte
  • January 6, 2025
  • 1 reply
  • 2 views

I have a client that build a second home and sold it.  They rented it out for two years.

They have high mortgage interest 125,000 on the second home.

Is the mortgage interest fully deductible or do I have to prorate it like home mortgage interest.

Please advise me.

 

1 reply

S
strongsilence
Level 10
January 8, 2025

This is not a software improvement suggestion. It is a tax research question. Please remove it or please ask the OP to explain how LC doesn't support his question. Thank you SBG. @sbgcpa872 

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