Hello: I obtained a home equity loan in 2021 to complete a major remodel of my primary residence; however, I have not been able to secure a contractor to start the project and haven't actually used any of the funds yet. Thus, is the interest on my equity loan still deductible? I'm not using the funds for any other purpose, as these funds are dedicated to the remodel of my home, so I figured the interest is tax deductible even though I haven't started the project yet, but I'm not entirely sure.
