The mortgage I paid interest on was neither to buy or build my home nor a HELOC or a refinance. We paid our mortgage in 2010, then borrowed for a remodel. What do I do?

mgbachand · ‎June 6, 2019

AlanT · ‎June 6, 2019

The new requirement to deduct the interest requires that the loan or line of credit must be used to buy, build or substantially improve your home. Borrowing to remodel (substantially improve) your home meets this requirement.

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AlanT · ‎June 6, 2019

The new requirement to deduct the interest requires that the loan or line of credit must be used to buy, build or substantially improve your home. Borrowing to remodel (substantially improve) your home meets this requirement.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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The mortgage I paid interest on was neither to buy or build my home nor a HELOC or a refinance. We paid our mortgage in 2010, then borrowed for a remodel. What do I do?