Real Estate (Taxes, Mortgage Interest, Points, Other. – Yes, state and local real property taxes are generally deductible. Mortgage interest paid on a second residence is also deductible as long as you don’t rent out the residence during the tax year, and the mortgage satisfies the same requirements for deductible interest as on a primary residence.

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It's tax time again, and homeowners that have a VA home loan or other home mortgage product may be eligible for allowed deductions per IRS Publication 530 .

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Interest in Real Property: Types of Estates – Video & Lesson. – A non-possessory interest is an interest in real estate that doesn’t include a current right to possess the land. There are several different types of non-possessory interests in real property.

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