can mortgage interest for rental property be deducted as personal deductions when rental loss is not allowed
Expenses to Obtain a Mortgage. You canât deduct as interest any expenses you pay to obtain a mortgage on your rental property. Instead, these expenses are added to your basis in the Â­property and depreciated along with the property itself.These basis Â­adjustments include: 1  abstract fees. 2  charges for installing utility services.xpenses to Obtain a Mortgage. You canât deduct as interest any expenses you pay to obtain a mortgage on your rental property. Instead, these expenses are added to your basis in the Â­property and depreciated along with the property itself. These basis Â­adjustments include: 1  abstract fees.