Is My Second Home Tax Deductible?

Is My Second Home Tax Deductible?
Dr. Friday Tax Tips - One Minute Mo...

 
 
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Dr. Friday 0:00
Good day. I’m Dr. Friday president of Dr. Friday’s tax and financial firm. To get more info go to www.drfriday.com. This is a one-minute moment.

Dr. Friday 0:12
So here’s the question, if you have a second home, is it tax-deductible? And the answer could be yes. If it’s not a rental, we can write it off, but it has to be true mortgage interest, it cannot be a line of credit. So that’s where we have to make sure that you’re doing your lines or loans a lot different than we used to worry about. So if you have a first you have a second. In theory, people’s motorhomes can be considered second homes on IRS tax form. So if you have questions about how or what you’re doing on your taxes, you might want to give us a call at 615-367-0819.

Announcer 0:52
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