Buy It With Cash, Mortgage It Later
http://www.nytimes.com/2016/07/24/realestate/buy-it-with-cash-mortgage-it-later.html
http://www.nytimes.com/2016/07/24/realestate/buy-it-with-cash-mortgage-it-later.html
Of course you can. All interest up to $1m is tax deductible for primary residences and there's no limit on investment properties. I had a client do exactly this last year and I did the same thing when I bought my client's condo.nyc to oc said:I wonder if you can still claim a mortgage interest deduction on your taxes if you do this?
USCTrojanCPA said:Of course you can. All interest up to $1m is tax deductible for primary residences and there's no limit on investment properties. I had a client do exactly this last year and I did the same thing when I bought my client's condo.nyc to oc said:I wonder if you can still claim a mortgage interest deduction on your taxes if you do this?
NewToNewport said:Do you mean there's no limit in how many investment properties you can deduct for, or no limit in the amount of mortgage interest deducted for investment properties (above $1.1M) ?
USCTrojanCPA said:Of course you can. All interest up to $1m is tax deductible for primary residences and there's no limit on investment properties. I had a client do exactly this last year and I did the same thing when I bought my client's condo.nyc to oc said:I wonder if you can still claim a mortgage interest deduction on your taxes if you do this?