shaytana22 asked:
With the AZ home counting as the first home and the RV as a 2nd home I know I can deduct interest but..when we bought the other home in GA that became our 1st home, the AZ a rental property and we still have the RV. I know I can claim interest paid on the AZ home for the full year but the question is can I claim the RV interest for the first 5 months of 2009 as a second home and then the home in GA for the last 7 months of the year as a 2nd home since we bought it in June?
Its very confusing lol. Especially since the AZ home has turned into a rental property since July 09. To make matters more confusing, the AZ home was refinanced in March 09 and i know I cannot fully deduct the points paid on that, but they will be amortized over the life of the loan.
With the AZ home counting as the first home and the RV as a 2nd home I know I can deduct interest but..when we bought the other home in GA that became our 1st home, the AZ a rental property and we still have the RV. I know I can claim interest paid on the AZ home for the full year but the question is can I claim the RV interest for the first 5 months of 2009 as a second home and then the home in GA for the last 7 months of the year as a 2nd home since we bought it in June?
Its very confusing lol. Especially since the AZ home has turned into a rental property since July 09. To make matters more confusing, the AZ home was refinanced in March 09 and i know I cannot fully deduct the points paid on that, but they will be amortized over the life of the loan.
Ive tried to research it on the web but they usually just explain the points and first and second home. But seeing as the RV was a second home for the first 5 months of the year and then turned to a 3rd home once we bought the house in GA in mid June I should be able to claim the first 5 months of the RV as a second home and from June on the interest paid on the house in GA as a second home.
AND the current renter in the AZ property does not pay the full mortgage. I can claim that as a loss.
Hope any of you can help
Thanks
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