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Itemize interest on two properties

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Chuy

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Post Posted: Sat Feb 12, 2011 5:45 pm    Post subject: Itemize interest on two properties
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My question is: Is it okay to itemize the interest from the property where I live and the property where my mother lives? My name is on both mortgages, hence it's also on the 1099 forms.
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adonis




Joined: 22 Oct 2005



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Location: ALASKA
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Post Posted: Sun Feb 13, 2011 10:01 pm    Post subject:
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Welcome Chuy,

You might be able to itemize the interest payments on both the properties. You should contact your tax adviser and take his/her opinion in this matter. He or she will be able to guide you in a better manner in this regard.

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