Yes, you should just delete the loan info since construction has not begun and it is not deductible until construction has started.
The total loan origination fees on a purchase of a new home are deductible in the year of the purchase or deducted over the life of the loan.
You can't deduct all of the loan origination fees paid in 2021, on the 2022 return, unless you spread them over the life of the mortgage.
For example, let's say the total loan Origination fees were, $2,500. Then $100 is deducted each year on a 25-year mortgage ($2,500/25 years = $100)
@jeeplady0201
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
