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I paid interest on a construction loan how do. Take that off my taxes

 
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I paid interest on a construction loan how do. Take that off my taxes

A construction loan for a personal home can be deducted as mortgage interest, but only if you complete construction and move in within 2 years of opening the loan, and if the balance of the loan is converted to a mortgage.  You can deduct the interest now if you are expecting those things will happen, but if they don't happen, you may have to make a correction on a future tax return.

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