I have a reverse mortgage. Can I deduct the interest that is added to the principal?

[KrisD · Accepted solution]

No, a reverse mortgage is not deductible. 

According to the IRS:

"Reverse mortgages. A reverse mortgage is a loan where the lender pays you (in a lump sum, a monthly advance, a line of credit, or a combination of all three) while you continue to live in your home. With a reverse mortgage, you retain title to your home. Depending on the plan, your reverse mortgage becomes due with interest when you move, sell your home, reach the end of a preselected loan period, or die. Because reverse mortgages are considered loan advances and not income, the amount you receive isn't taxable. Any interest (including original is-sue discount) accrued on a reverse mortgage is considered home equity debt and isn’t deductible."

https://www.irs.gov/pub/irs-pdf/p936.pdf

[CELINK]

I included it by mistake 

[Carl]

On a reverse mortgage interest will accumulate as time passes. That interest is not deductible until the tax year you actually pay it. When you actually pay it, you will receive a 1098-Mortgage Interest Statement for the tax year you pay it, provided the amount of interest actually paid in the tax year exceeds $600.