Can I dedect interest from a hard money loan?

[Daniel Rutledge]

Short question: Can the interest from a hard money loan be used for tax purposes the same as a conventional mortgage? What if it is an interest only loan can it all be deducted on your taxes? Thanks for any input!

Sorry for the misspelled word in the subject. I can't seem to edit that part.

[Jamie Engledow]

If this is a rental (schedule E) of a business (schSch c) or any other entity, Scorp, Corp, or Partnership. interest expenses for property purchased for a business involved in real estate activities is deductible as a business expense providing that no other criteria thst may otherwise disallow is present, such as personal use of the property or hobby loss is present