topic Our home is paid off and we did a home improvement loan. How do we claim that? in Deductions & credits

Our home is paid off and we did a home improvement loan. How do we claim that?

tdm2012 — Mon, 09 Mar 2026 08:10:10 GMT

Re: Our home is paid off and we did a home improvement loan. How do we claim that?

DoninGA — Sun, 13 Mar 2022 15:45:11 GMT

The cost of a home improvement to a personal residence is not reported on a tax return. The cost of the improvement is added to the basis of the home when it is sold.

Re: Our home is paid off and we did a home improvement loan. How do we claim that?

Hal_Al — Sun, 13 Mar 2022 16:24:08 GMT

The interest may be deductible as mortgage interest, under certain conditions. See https://wallethub.com/answers/pl/are-home-improvement-loans-tax-deductible-2140686581/

It would be best if your loan company treated it as such and issued you form 1098. But, you can still deduct the interest without a 1098.