Yes, you are allowed to deduct the property taxes on as many properties as you own. Mortgage interest you pay is deductible on your principal residence (in your case both your old and new home) and any other second residence, such as a vacation home. If you own more than two homes, you are allowed to choose each year which second home interest you will deduct.
I purchased a new home and paid property taxes and mortgage interest on both my old and new home. Can I deduct the total for both homes on Schedule A?
Modified on: Sun, 5 Feb, 2017 at 6:40 PM
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