How to Make Your Mortgage Payments Tax Deductible

The Smith maneuver is a strategy that enables you to make the interest on more your residential mortgage or your principal residence tax deductible. If you have an income property, you can write off the interest off of your mortgage payments on your taxes because it is an income property. You end up not really paying off your mortgage because the equity you gain, you re borrow it to invest via the HELOC.