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Old 12-30-2017, 07:04 PM
 
466 posts, read 290,483 times
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I Googled this but was not able to find the answer. I also posted this question in the RE forum but have not received any response, so thought I might try here. How will the 2018 tax bill impact mortgage interest deductibility on a new second home mortgage? Looking at buying a second home, which will eventually be my retirement home. Thanks in advance!

 
Old 12-30-2017, 07:11 PM
 
Location: Idaho
1,452 posts, read 1,153,939 times
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You can find the answer to your question here

https://www.cnbc.com/2017/12/22/tax-...cond-home.html

You can only deduct mortgage interest for up to $750,000 for all homes purchased after Dec 15.

So you can still deduct the interest rate on your second home up to the difference between your 1st home mortgage and $750K.
 
Old 12-30-2017, 09:01 PM
 
466 posts, read 290,483 times
Reputation: 1809
Quote:
Originally Posted by BellaDL View Post
You can find the answer to your question here

https://www.cnbc.com/2017/12/22/tax-...cond-home.html

You can only deduct mortgage interest for up to $750,000 for all homes purchased after Dec 15.

So you can still deduct the interest rate on your second home up to the difference between your 1st home mortgage and $750K.


Thank you! Your response and the article are exactly what I was looking for!
 
Old 12-30-2017, 11:06 PM
 
Location: Idaho
4,622 posts, read 4,462,694 times
Reputation: 9040
[mod note] OP's query answered. Thread closed, mostly because this is not the most appropriate forum for the subject matter. [/mod queue]
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