If before Jim's heart attack, values were EDV=130 ml ESV= 50- ml what is his SV?
(But because it is a personal residence, the interest that doesn't count as a rental expense â 20% in our example â can be deducted as a personal expense.). If you limit personal use to 14 days or 10%, the vacation home is considered a business and up to $25,000 in losses might be deductible each year. That's why lots of vacation homeowners hold down leisure use and spend lots of time maintaining the property. Fix-up days don't count as personal use.
(Unless you use the home for part of the year) See IRS Publication 527 Mortgage interest is deductible on Schedule A, if it applies to your primary residence or second home. Mortgage interest is deductible on Schedule E, if it is rental property.est Answer: The mortgage interest you pay on your primary home and your second home is deductible on Schedule A, line 10. The homes do not have to be a certain distance apart. They can be next to each other, if that's the case. Both mortgages must be in your name.