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Can I deduct mortgage interest on a vacant land loan?

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Can I deduct mortgage interest on a vacant land loan?

Unfortunately, no.

No, you can't deduct interest on land that you keep and intend to build a home on. However, some interest may be deductible once construction begins. ... As a qualified home, the interest paid may qualify as deductible mortgage interest, with certain limitations.

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Can I deduct mortgage interest on a vacant land loan?

Unfortunately, no.

No, you can't deduct interest on land that you keep and intend to build a home on. However, some interest may be deductible once construction begins. ... As a qualified home, the interest paid may qualify as deductible mortgage interest, with certain limitations.

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