- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Is the mortgage interest that you can claim essentially the amount of mortgage payments you made that year which went towards paying off the mortgage interest?
Topics:
October 29, 2019
9:24 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors and rental owners
Is your question in regard to a rental property?
October 29, 2019
9:24 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors and rental owners
Yes, sorry it is in regards to the mortgage interest for my rental property
October 29, 2019
9:24 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors and rental owners
For a rental property you can deduct the interest payments only. You cannot deduct the principal portion of the payments. Your financial institution should send you an annual statement breaking out the principal vs. interest of your total payment.
Happy Filing!
Christine
October 29, 2019
9:24 PM