Question

Starting in 2018, can I still deduct my home mortgage interest amount, and mortgage interest on a rental property that was my primary residence for 7 years?

Forum|Forum|7 years ago
June 3, 2019
1 reply
0 views

No text available

TurboTax Self Employed Online

Employee

Yes, mortgage interest is still deductible in 2018.

For a primary home, the deduction for interest is on home loans up to $750k (down from $1 mil). Interest paid on amounts over the limit are not deductible.

For rental property, the mortgage interest deductions has no loan limit amounts. So, no limit to the mortgage interest deduction.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Carl11_2

Employee

Basically for business property (and rental property is a type of business property) mortgage interest is a business expense per-se, and therefore no limits.