topic Bridge loan interest deductible? Loan was promissory note secured by lien on 2nd home. No loan on 1st house, bought 2nd house, sold 1st house in 2.5 mo, paid bridge loan. in Deductions & credits

Bridge loan interest deductible? Loan was promissory note secured by lien on 2nd home. No loan on 1st house, bought 2nd house, sold 1st house in 2.5 mo, paid bridge loan.

ptbttax — Thu, 06 Jun 2019 14:37:02 GMT

Yes, the interest you paid on a bridge loan that is secur...

PatriciaV — Thu, 06 Jun 2019 14:37:04 GMT

Yes, the interest you paid on a bridge loan that is secured by your home may be reported as Mortgage Interest on Schedule A.

Which home is it declared against? The first residence,...

james-c-weber — Thu, 06 Jun 2019 14:37:05 GMT

Which home is it declared against? The first residence, which is sold or the second residence which was purchased? Presumably the first, since the loan papers are against that.