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    Morgan Dunbar's Avatar
    Morgan Dunbar Posts: 1, Reputation: 1
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    #1

    Apr 6, 2008, 07:03 AM
    Own 2 houses,can I deduct the property taxes for both?
    In Indiana I can deduct the property taxes paid, but in my case I bought a new house and still own the old house. I've been working on it for a year now preparing it for sale, but seeing as it sits empty and is not a revenue generating property, can I deduct its taxes as well as my principle dwelling. Please help me as I can't find a description that covers my specific situation.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Apr 7, 2008, 06:53 AM
    Yes - you can deduct property taxes from both a first and second home. See:
    Frequently Asked Questions - 3.6 6. Real Estate (Taxes, Mortgage Interest, Points, Other Property Expenses)

    Mortgage interest on the seconfd home is also deductible - see Pub 936: http://www.irs.gov/pub/irs-pdf/p936.pdf
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