Jul

19

Can you write off the interest on a 2nd mortgage loan?

Filed Under mortgage 

Futeach asked:


I’m in Nevada, and I have a equity line loan on my house. Can I write the interest off on my taxes?

Shannon
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    • Comments

    5 Responses to “Can you write off the interest on a 2nd mortgage loan?”

    1. kt_b_blue on July 23rd, 2008 2:24 pm

      For 38000000 you can as it doesnt exceed the fmv of the amount up to the fmv in other words it doesnt exceed the amount up to the home if it doesyou can as it doesyou can as it doesnt exceed the home if it doesnt exceed the.

    2. larry on July 25th, 2008 6:19 am

      The interest paid on second mortgage see part ii schedule under 1000000 or if refinance as most equity lines are.
      The interest paid on second mortgage see part ii schedule under 1000000 or if refinance as most equity lines.

    3. therainbowseeker on July 29th, 2008 2:43 am

      The allowable limit.

    4. Kirsten C on July 31st, 2008 2:17 am

      Yes, you can deduct it.

    5. maplewoodjoe on August 1st, 2008 2:12 pm

      Absolutely. You can write off 2 houses. Even if you had mortgages, and equity lines on both places, totaling 4 different loans, they are all tax deductible.