Is home equity loan on a rental property tax deductible?

Admin — Tue, 02 Feb 2010 08:29:01 +0000

I own a home right now where I am still paying PMI. I also have a rental property. I would like to take a home equity loan on the rental property to pay-off some of my mortgage so I will not have to pay PMI to my first home anymore. Will the interest I pay on the home equity loan on my rental property be tax deductible?

Is travel cost related to home improvement for a rental property deductible?

Admin — Mon, 01 Feb 2010 20:26:49 +0000

I bought an apartment in 2007 as a rental property in a different state. The building is still being constructed and I have a loan on this property and am paying mortgage interest. In 2008, I traveled to this location to decide on customizations on the property (carpets, kitchen, and windows). Is my travel cost deductible? I am deducting the mortgage interest. Is this travel cost deductible? Which form should I file? Obviously, there is no rental income on this property.

Rasmey Rentals » deductible

Is home equity loan on a rental property tax deductible?

Is travel cost related to home improvement for a rental property deductible?