Mortgage insurance for property

[morganm50]

What a great resource.  Thanks.

Question - I have a "first home" already with a mortgage.  Bought a piece of property to hopefully build a retirement home in the future and I have a mortgage on it.  Received a 1098 from the lender showing the mortgage interest I paid.  It also shows the address securing the mortgage.   Doing research, it always talks about built homes.  This is just a piece of property that will eventually have a second home on it.  Does the piece of property qualify for a second home therefore allowing me to deduct the mortgage insurance?

Thank you

[ThomasM125]

No, the property does not qualify as a second home since there is no house on it yet. You can learn more in this IRS article.

[morganm50]

Thanks for the info and the article.