Is Mortgage Interest Tax Deductible?
AGenerally speaking, only if they’re investment properties and only if it’s set up properly. Probably, in most cases, you’ll be using a property accountant to really make sure that you’re taking advantage of it. So, you won’t get the tax advantages on your family home, but you will get tax deductible expenses for the interest and any other property related costs that fall within the realm of being legal and ethical.
And working with a property accountant is going to make sure that everything is set up correctly in that way. So, rather than guessing with, you know, interest expenses and other things that are tax deductible, find the right property accountant. It’s relatively inexpensive and they’ll do the work for you, make sure you get the refunds if you’re owed.