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Right, in the US, you can deduct mortgage interest and property taxes to lower your taxable income. There is a mortgage cap of around a million dollars where t
by bartc 9y ago
Right, in the US, you can deduct mortgage interest and property taxes to lower your taxable income.
There is a mortgage cap of around a million dollars where the deduction ends, which is only relevant in a small number of real estate markets like California, Seattle, New York, and so on.
- jacalata 9y agoNote that this only applies to the mortgage on the house you live in, not for landlords.
- toomuchtodo 9y agoYou can deduct the mortgage interest on a rental property against the income from that property.