Tax law is pretty straightforward when it comes to deducting mortgage interest on your home.
When it comes to deducting mortgage interest on your rental property, lawmakers set enough traps that it’s like walking through a minefield. And if you’re not careful, you can trigger an explosion—an explosion of cash pouring out of your pockets!
With a bit of knowledge and planning, you might avoid this outflow of cash. In fact, knowledge is power—the power to fatten your wallet!
This article will walk you through three major rental property interest deduction traps with the goal of avoiding them or making them work for you. ... Log in to view full article.