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Deduct mortgage interest
Hi,
My situation is like this. I refinanced my canadian home so I can get cash which I used to buy a rental property in Arizona, US. My question is: Can I claim the mortgage interest against the rental income from Arizona? Thank you. |
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Yes, you can deduct mortgage interest along with other cost too. Check out this Internal Revenue Service under residential rental property search... Hope that help. |
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I am a Canadian. The things worry me is that since I took money from my existing house, i.e. refinance. Use this cash to buy the house in US. The house in US did not have any mortgage, but with the house in Canada. Question is: Can I deduct the mortgage interest from the Canadian house for the rental income from the house in US?
Thanks |
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