Yes, you can. It's deductible as home mortgage interest.
The following home mortgage loans are deductible as home mortgage interest:
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Acquisition debt - mortgage taken out to buy, build or improve your home of up to $1 mln; taken out after Oct 13, 1987
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Home Equity Debt - debt other than acquisition debt up to $100,000; limited to your home's Fair Market Value; taken out after Oct 13, 1987
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Grandfathered Debt - mortgage taken out on or before Oct 13, 1987
- Federal Taxes
- Deductions & Credits,
- Scroll
down to Your Home, select Mortgage Interest and Refinancing
