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
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
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