M
malachi
New Member
Welcome all,
I need some advice. I'm going to buy a condo for a relative in NY. I currently rent in VA. Is it possible for me to get that tax (mortgage/interest) deduction for this home even if it is in another state. I know that you get this deduction if a you buy a home, and you do not get it if it is an investment. Buying this home for this relative is not an investment. I may possibly live there when I move back to NY. In the meantime, I will rent in VA.
What should I do?
Thanks
I need some advice. I'm going to buy a condo for a relative in NY. I currently rent in VA. Is it possible for me to get that tax (mortgage/interest) deduction for this home even if it is in another state. I know that you get this deduction if a you buy a home, and you do not get it if it is an investment. Buying this home for this relative is not an investment. I may possibly live there when I move back to NY. In the meantime, I will rent in VA.
What should I do?
Thanks
