Can I write off the interest expense on my investment rental properties mortgage?
If you read the first page or so of the IRS pamphlet it will tell you can write off interest, but if read a little farther it will tell yes ONLY IF you have lived there for a certain amount of time that year. You can depreciate it. Just because somebody tells you something in here don’t expect it to hold up if you are audited. Talk to a tax account to get the correct answer. I own a few rentals and this question comes up often, The amount of $$ you will pay to get good correct advice versus the guess you get here will serve you well. I believe some of the other right offs mentioned above will may come into play when you sell.
