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Mortgage interest and property tax on a second residence are deductible
The mortgage interest on a second home which you use as a residence for some portion of the taxable year, is generally deductible if the interest satisfies the same requirements for deductibility as interest on a primary residence. Real estate taxes paid on your primary and second residence are, generally, deductible. Deductible real estate taxes include any state, local, or foreign taxes on real property levied for the general public welfare. Deductible real estate taxes do not include taxes charged for local benefits and improvements that increase the value of the property.
This Information has been Provided by a CPA Mom. This information is for general information only.
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Condominiums - Disadvantages
Condominiums...
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Think Long-Term
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1)...
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