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do I have to allocate rental mortgage interest like home mortgage interest
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do I have to allocate rental mortgage interest like home mortgage interest
do I have to allocate rental mortgage interest like home mortgage interest
Submitted by sbgcpa872 2 weeks agoI have a client that build a second home and sold it. They rented it out for two years.
They have high mortgage interest 125,000 on the second home.
Is the mortgage interest fully deductible or do I have to prorate it like home mortgage interest.
Please advise me.
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