Can you deduct interest on properties that you are Lease/Optioning? Thanks :-?
If you are the tenant/buyer, the answer is no. You are paying rent, not mortage interest. If you are the landlord/seller, the answer is yes. Your mortgage interest is expensed against your rental income on Schedule E.
If you are the tenant/buyer, the answer is no. You are paying rent, not mortage interest.
If you are the landlord/seller, the answer is yes. Your mortgage interest is expensed against your rental income on Schedule E.