MarilynG1
Expert Alumni

Deductions & credits

You can claim the interest on a construction loan for up to 24 months if you eventually (within 24 months) move in and use as your primary home. 

 

If you started the loan in 2020, the beginning balance (box 2) should be blank. The program might not like that, but if you enter a 2020 origination date, you can move forward past any error message. 

 

The ending balance (01.01.2021) should not be zero since you took a draw. 

 

Click this link for more info on Construction Loan Interest

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