Construction to permanent loan

[moore3me]

Hello there!!

In 2024 we received 14 acres of land from family and we obtained a construction to permanent loan in November. We only paid interest on that loan so far as it's still being built currently. Do i need to include any of this in my filing anywhere? 

[MaryK4]

If this is for a personal loan you would not need to enter the information.  If it is a business loan, you may be able to deduct the interest, but it depends on the purpose.