Buyers used mortgages to finance 72 percent of vacation ... Meanwhile, the ultra-wealthy use a loophole in the second-home deduction to write off the interest on their yachts.

However, what if you get a second home mortgage? Does it matter what you use it for? Can you deduct interest indefinitely? We'll take an in-depth look at the tax implications of taking on a ...

That’s thanks to the Home Mortgage Interest Deduction, which lets you write off the interest you pay on your mortgage loan throughout the year. Interest on other second mortgages, such as home ...

If you have two homes, you can still deduct the mortgage interest on your federal taxes on a second home. To qualify, the property must be listed as collateral on the loan. You can only deduct ...

You can deduct a percentage of the interest on a mortgage for a primary or second home if you itemize your deductions. You can deduct the interest you paid on the first $750,000 of your mortgage.

Who Qualifies for the Mortgage Interest Deduction? A main or second home qualifies for mortgage interest deduction — so if you have additional properties they would not be eligible except under ...

To take the mortgage interest deduction, the interest paid must be on a “qualified home.” Your first and second home may be considered qualified homes, but there are some exceptions.

The mortgage interest deduction allows homeowners to deduct ... The deduction can apply to your primary residence or second home, though there are some restrictions. You can also generally deduct ...

Amy Fontinelle is a freelance writer, researcher and editor who brings a journalistic approach to personal finance content. Since 2004, she has worked with lenders, real estate agents, consultants ...

The Tax Cuts and Jobs Act (TCJA) impacts property tax and mortgage interest deductions for second homes. Converting a second home to a primary residence can offer capital gains tax exclusions.

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.