Can I deduct a wraparound mortgage?
Updated: 1/21/2013
Article ID: IAS10328
You can deduct mortgage interest paid on a wraparound mortgage if it is recorded or otherwise perfected under state law.
If the wraparound mortgage meets these qualifications, the mortgage interest is deductible as an itemized deduction. TurboTax will help you determine if you qualify and will calculate the correct deduction.