Rental Property Interest Deduction

[Brando]

s About Taxes)/rental property interest deduction Advertisement Expert: John Stancil, CPA - 4/5/2011 In January 2011 I inherited a duplex(both sides rented) which currently has no mortgage.  Can I take a mortgage against this property and then deduct interest paid on the mortgage from rental income?

In the same vein, I own a condo that I am going to begin renting.  I have a HELOC against my primary residence that I used to purchase this condo.  Can I deduct interest paid on the HELOC from rental income?

Thank you.