Discussion:Mortgage interest and r/e taxes on vacation home.

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Revision as of 18:38, 21 March 2009

Discussion Forum Index --> Basic Tax Questions --> Mortgage interest and r/e taxes on vacation home.
Discussion Forum Index --> Tax Questions --> Mortgage interest and r/e taxes on vacation home.

Dnc0716 (talk|edits) said:

21 March 2009
Is it required that the mortgage interest and real estate taxes paid on a vacation home be reported on schedule E. I know the order of expenses for vacation homes are 1.interest and taxes 2.operating expenses 3.depreciation. Does is state specifically that the taxes and interest must go on schedule E or can they all go on schedule A. I have a client who would benefit more from having 100% deducted on schedule A instead of the personal use %. He has enough operating expenses to cover the rental income. Any information would be greatly appreciated.

Nate

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