Mortgage Interest On Second Home!!!need some help!
If one buys a second home, is the interest on that mortgage tax-deductible?
Do you know the applicable IRS tax code for that by chance?
Within the allowed limits (1 million total, etc) you can deduct
mortgage interest on your main home plus one second home.
Do you plan to go to the code and read it? If that's the
case, why not read the basic law under Title 26, USC?
But if you want an easy to understand explanation, read IRA
Publication 936, avaialble via search string "Publication 936"
at www.irs.gov or in IRS Pub 17, Page 164, left column