@Opus 17 : thanks for the clarification. Yes, I understood that I can only consider mortgage interest of 100K deductible only after 100K (or more) is spent on home improvements.
A bit more complex scenario: what happens if trace of 100K is not direct? i.e. In 2020, I got cashout, and used up 100K in another investment (e.g. rental property), and in July 2021, I make home improvement of 100K from my own savings. Would the 100K be considered as part of acquisition debt starting July 2021?
