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IdaChik
New Member

If I have a large line of equity (over $100k), do I enter the entire interest amount as excess mortgage interest for a home office?

 
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1 Reply
JohnB5677
Expert Alumni

If I have a large line of equity (over $100k), do I enter the entire interest amount as excess mortgage interest for a home office?

The law specifies that you can deduct home equity mortgage interest if the interest was used to "buy, build, or substantially improve" the home.  So if you expanded the home or renovated the home for the office it may be, but otherwise, No.

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