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Level 1
June 6, 2019
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The mortgage I paid interest on was neither to buy or build my home nor a HELOC or a refinance. We paid our mortgage in 2010, then borrowed for a remodel. What do I do?

  • June 6, 2019
  • 1 reply
  • 16 views
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    Best answer by AlanT222

    The new requirement to deduct the interest requires that the loan or line of credit must be used to buy, build or substantially improve your home.  Borrowing to remodel (substantially improve) your home meets this requirement.  

    1 reply

    AlanT222Answer
    Level 15
    June 6, 2019

    The new requirement to deduct the interest requires that the loan or line of credit must be used to buy, build or substantially improve your home.  Borrowing to remodel (substantially improve) your home meets this requirement.  

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