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Deductions & credits
In your situation , as Vanessa A points out, since the original mortgage was taken out before the change in mortgage loan limits was in effect, the entire amount is deductible.
Because the additional loan went over the limit that was in place for that Tax Year, the interest, although used to improve the home, would be disallowed.
@Anonymous
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‎February 4, 2023
6:31 AM