I purchased a rental property several years ago from a relative and the seller financed the mortgage. Over the past several years I have claimed the interest deduction on my 1040 and the relative claimed the interest as income.
I sold the property in 2018 and paid capital gains tax on the gain. However, the relative did not want the mortgage to be paid off, instead she wants to continue receiving monthly payments. It's a good interest rate so I am happy to put the money towards other investments.
As the loan was originally for a property, and the relative claims it as interest income, can I still deduct the interest on my personal taxes?