Investors & landlords

Yes, you will need to document the portion that was used for property improvement only. You will only be able to claim the interest on the portion that was used to buy, build or substantially improve your home regardless of when the loan was taken out.  As you walk through the Mortgage Interest questions, TurboTax can help you with the calculations. 

"Home equity loan interest. No matter when the indebtedness was incurred, you can no longer deduct the interest from a loan secured by your home to the extent the loan proceeds weren't used to buy, build, or substantially improve your home."https://www.irs.gov/publications/p936

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