Michaela owns a principal residence in Georgia, a townhouse in San Francisco, and a yacht in Cape Cod. All of
Michaela owns a principal residence in Georgia, a townhouse in San Francisco, and a yacht in Cape Cod. All of the properties have mortgages on which Michaela pays interest. What are the limitations on Michaela’s mortgage interest deduction? What strategy should Michaela consider to maximize her mortgage interest deduction?
Michaela can deduct mortgage interest on her principal residence and one of the two o…View the full answer
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