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Can I deduct interest on a construction loan for a new home which I paid for in 2016/

 
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Carl
Level 15

Can I deduct interest on a construction loan for a new home which I paid for in 2016/

If certain specified conditions are met, then yes. See IRS Publication 936 at https://www.irs.gov/pub/irs-pdf/p936.pdf and go to page 4 of that document. Middle column towards the bottom of that page. Start reading from "Home under construction". Pay attention to the wording, because the IRS is "literal" here. It has to become "your" home.

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