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- Second Home
The mortgage interest on a second home which is used as a residence for some portion of the taxable year is generally deductible if the interest satisfies the same requirements for deductibility as interest on a primary residence.
Other deductions for second home are:
1. Real estate taxes paid on second home are, generally, deductible.
2. Deductible real estate taxes include any state, local, or foreign taxes on real property levied for the general public welfare.
3. Deductible real estate taxes do not include taxes charged for local benefits and improvements that increase the value of the property.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Second Home is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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