http://www.makecahome.com/can-i-writeoff-the-mortgage-interest-payment-for-tax-purpose-for-my-second-homerental-property-in-california California Real Estate Tue, 24 Jan 2012 09:31:37 -0600 http://wordpress.org/?v=2.8.4 hourly 1 http://www.makecahome.com/can-i-writeoff-the-mortgage-interest-payment-for-tax-purpose-for-my-second-homerental-property-in-california/comment-page-1#comment-476 Judy Fri, 23 Oct 2009 10:48:44 +0000 http://www.makecahome.com/can-i-writeoff-the-mortgage-interest-payment-for-tax-purpose-for-my-second-homerental-property-in-california#comment-476 Rental income and expenses go on schedule E. If you have a loss for the year, the loss may have to be deferred to a later year. Investment interest expenses is often deferred since you must have investment income to offset against it. Rental income and expenses go on schedule E. If you have a loss for the year, the loss may have to be deferred to a later year.
Investment interest expenses is often deferred since you must have investment income to offset against it.

]]> http://www.makecahome.com/can-i-writeoff-the-mortgage-interest-payment-for-tax-purpose-for-my-second-homerental-property-in-california/comment-page-1#comment-475 mandy Fri, 23 Oct 2009 10:42:20 +0000 http://www.makecahome.com/can-i-writeoff-the-mortgage-interest-payment-for-tax-purpose-for-my-second-homerental-property-in-california#comment-475 Rental property is not a "second home" for you, and you can't write off the interest on schedule A. Your rental income and expenses will be listed on a schedule E. You can write off those items there for the rental property, whether you itemize or not - they are totally separate. You will show your rental income and expenses for the property outside of CA on a schedule E also. Rental property is not a “second home” for you, and you can’t write off the interest on schedule A.
Your rental income and expenses will be listed on a schedule E. You can write off those items there for the rental property, whether you itemize or not – they are totally separate.
You will show your rental income and expenses for the property outside of CA on a schedule E also.

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