I have a reverse mortgage on my new home. Can I deduct the interest that the mortgage company is deducting from the equity I have invested?

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No, neither the costs nor the interest is deductible. A reverse mortgage is now treated as a home equity line of credit which is also not deductible.

"Any interest (including original issue discount) accrued on a reverse mortgage is considered home equity debt and isn’t deductible." https://www.irs.gov/pub/irs-pdf/p936.pdf

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Re: Calculating the mortgage interest rate deduction for cash out refinance (not all funds used for home) over the years

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I have a reverse mortgage on my new home. Can I deduct the interest that the mortgage company is deducting from the equity I have invested?

I have a reverse mortgage on my new home. Can I deduct the interest that the mortgage company is deducting from the equity I have invested?

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I have a reverse mortgage on my new home. Can I deduct the interest that the mortgage company is deducting from the equity I have invested?

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I have a reverse mortgage on my new home. Can I deduct the interest that the mortgage company is deducting from the equity I have invested?

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