Skip to main content
Best answer by KatrinaB48

It depends.

In general, deductible mortgage interest must be claimed on a mortgage used to buy, build, or substantially improve a home. The IRS will not allow a taxpayer to deduct mortgage interest on land unless that taxpayer plans to build a home on the land within 24 months. Please view the IRS link below for more information about this rule.



1 reply

Level 15
June 6, 2019

It depends.

In general, deductible mortgage interest must be claimed on a mortgage used to buy, build, or substantially improve a home. The IRS will not allow a taxpayer to deduct mortgage interest on land unless that taxpayer plans to build a home on the land within 24 months. Please view the IRS link below for more information about this rule.



**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"