Thank you @Mike9241 for the reply and I figured this was the case, so thanks for confirming my suspicions. But if I spend the entire original loan amount (given I haven't spent it yet) on the project in 2022 (assuming I start and finish the project in 2022), would I be able to deduct the interest going forward? Or would I only be able to deduct a portion of the loan interest? Thanks again for your help on this.
