I have be told yes, if you're clean about the source and use of funds. e.g. 50K/100K line used for real esate, you can deduct 1/2 the interest.
Or, just take an interest deduction on your Schedule A along with your home mortgage interest deduction when you itemize. Net effect is the same.
isn't only the interest on your 1st and 2nd home deductible? Seem like you'ld have to take the sched e route.
I have a 401k plan through my employer and a IRA. What other plans are available to me as a landlord?
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I have be told yes, if you're clean about the source and use of funds.
e.g. 50K/100K line used for real esate, you can deduct 1/2 the interest.
Or, just take an interest deduction on your Schedule A along with your home mortgage interest deduction when you itemize. Net effect is the same.
isn't only the interest on your 1st and 2nd home deductible?
Seem like you'ld have to take the sched e route.
I have a 401k plan through my employer and a IRA. What other plans are available to me as a landlord?